*
Bitcoin has been keeping the cryptoverse enthusiasts awake since its bearish plunges which began on friday after traditional markets closed on a lower note.
Weekend trading has been known to be volatile in
Btcusdt
on negative market closings. However futures markets have been holding steady and have not shown deep red numbers in the alt market as people would expect.
However, the market could be awaiting for Sunday night CME futures to open at 8pm Chicago time.
Lets take a look at the chart few hours prior to the CME futures on Binance exchange for btcusdt.
We can see that a second red candle is redy to be closed on the 4 hour chart below the decending trendline. This could mean the end of the reversal be saw where Bitcoin recovered from the heavy selling plunge that brought it down to the danger zone of 8800. *
Charts showing bearish indicators for the coming 16 hours. Bitcoin has resistance at 9140 9240 and no support down till 8890. For the past 24 hours be saw it struggling to stay above 9100 with little success as buyers are loosing steam to the bears. This might very well be the start of the bearish market in the cryptoverse. Beware of liquidation spikes before Btc makes a possible Big move downwards.
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