In our article last week, we stated that the selling pressure in Bitcoin could continue. We observe that the sales have increased with the closing of the day under the daily Ma20. Although there are many symmetrical triangle views that are broken down in Bitcoin, it is a positive data that Bitfinex whales close their short positions during these decreases.
PlanB, the inventor of the Bitcoin S2F model, recently shared his prospects in Bitcoin. Stating that Bitcoin has fallen so much due to Elon Musk’s energy Fud and China’s pressure policy, the analyst stated that the selling pressure may continue in June and July.
“We can see continued weakness in June and July for a number of fundamental reasons. In my worst case scenario for 2021, we will be over $47K in August, $43K in September, $63K in October, $98K in November, and $135K in December.”
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