BTC Is In Trouble - 8700 a likely scenario
Not much to say here - BTC is having trouble getting out ahead of the bear trend/200MA day after day. The chop isn't a good sign, the volume is still too low, and there frankly hasn't been enough pain/shake out over the last five months.
Without a breakout above 9300 ish (probably closer to 9500 with some force, really) the price will drop into the 8700 area once again, then to 7800 following that - I'd even go as far as to say that 6800 USD is in play, if not likely. Safe buyig zone (NOT ACTUAL ADVICE) around 7800, major fiat ins around 6800, averaging down if the price continues to drop.
Worth mentioning that summer is not typically kind to traditional markets - so buckle up.
Without a breakout above 9300 ish (probably closer to 9500 with some force, really) the price will drop into the 8700 area once again, then to 7800 following that - I'd even go as far as to say that 6800 USD is in play, if not likely. Safe buyig zone (NOT ACTUAL ADVICE) around 7800, major fiat ins around 6800, averaging down if the price continues to drop.
Worth mentioning that summer is not typically kind to traditional markets - so buckle up.
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