Bitcoin failing to hold our acting support zone given in the l | Crypto Signals ©

Bitcoin failing to hold our acting support zone given in the last update. As indicated in our chart

we can anticipate this region (57-58k / previously support) to act as our new short term resistance; whilst the price trades beneath this support, we can naturally assume that bitcoin will consolidate towards our 0.618 fib (strong support/50k$) before hopefully forming a new base to help enforce a leg up. However, given the combination of regulatory uncertainty and a technical breakdown, our bias is slightly more bearish for the short-term, however, assuming we hold critical support at 50k (0.618fib), our outlook would remain quite bullish for the mid/long term. For the time being, we can recommend scaling a bit of profits out of BTC into stablecoin (TP) while still maintaining an overall net-long position (50%+)

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