The analysis of the daily chart of Bitcoin shows the predominance of sellers: the volume for sale is bigger, the formation of the graphic figure "Pennant" is coming to an end. The Bitcoin rate aims at the nearest goal: $ 7000.
We believe that buyers can support Bitcoin rate near $ 7,000 - $ 6,800.
Priority of the day: BTCUSD sales with a target of $ 7000.
It is better to look for an entry point for a short position on Bitcoin on a rollback, from the level of $ 7800.
Projected scenarios:
1. Sell BTCUSD from $ 7800 to $ 7000.
2. We are waiting for Bitcoin rollback up to enter at the best prices.
Alternative scenario:
A volume analysis shows the lack of buyers of Bitcoin, so today it is better be on the side of bears. When there are signs of a bullish mood for Bitcoin, we'll take their side.
We believe that buyers can support Bitcoin rate near $ 7,000 - $ 6,800.
Priority of the day: BTCUSD sales with a target of $ 7000.
It is better to look for an entry point for a short position on Bitcoin on a rollback, from the level of $ 7800.
Projected scenarios:
1. Sell BTCUSD from $ 7800 to $ 7000.
2. We are waiting for Bitcoin rollback up to enter at the best prices.
Alternative scenario:
A volume analysis shows the lack of buyers of Bitcoin, so today it is better be on the side of bears. When there are signs of a bullish mood for Bitcoin, we'll take their side.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.