BTCUSD: yesterday was relatively calm. The price was in the range of $ 6780 - $7222. The flow of negative news has temporarily ceased. Sellers took a waiting position. While the price is below 7300 risks remain to update the minimum 6533.
On the hourly chart has caused two vertical zones. The first zone is from 11:00 to 14:00 UTC, the second – from 23:00 to 3:00 UTC Monday. The first zone is favorable for buyers, the second - for sellers.
BTCUSD: here are three charts-quarterly, monthly and weekly. The first quarter closed with a decline of BTC by 49.70%. In March, bitcoin lost 32.86% to $6925. The drop was more than 61.8% of the increase from 162 to 19891.
With such monthly candlesticks, the situation for buyers looks extremely unfavorable. Bears are trying to break through TR1. Its breakout will open the way for them to TR2. In the $4100-$4400 zone near TR2, there may be an increased interest in cryptocurrencies from new investors who have been waiting for the price decline for a long time.
If the negative news continues to fall on the market, the sellers will try to completely block the rally for 2017 – $966 (01.01.2017).
#Bitcoin dropping towards target of ~3500 USD. I will however need to see other indicators of bottom around this level before eventually buying some.
i) we did see a small bounce off the swing-low opportunity 1 up to $7.2k
ii) however, I still don't see conviction if this is actually going to be a mini-bull run.
iii) needs a large green candle - these small daily green candles show signs of bear
$BTC update : we're consolidating in yet another triangle like the previous wave , either way it's preparing for another big move soon.
CryptoBirb
@crypto_birb
8h8 hours ago
$btc eyes on daily close 👀