Bitcoin. Now it's all about the buyers. A look towards $ 15,500
So, yesterday's pre-Christmas sale of cryptocurrencies made a strong impression on cryptocurrencies' fans and their opponents. What now?
On the chart, we see a breakdown of a growing trend at record volumes.
True, the bulls still have a chance, if there is a quick return to the level of $ 19,000 by today or tomorrow and the closing of the week without the decline of the rate. However, it does not seem that any of them want to take this chance ...
So it looks like it is at best a transition to the outset.
The key level-indicator of whether it is the outset or the fall is $ 15,500. (Mid-fall and resistance level + slow moving average on the daily chart)
The buyers must overcome this level to cool the sellers. Overcoming the $17500 mark will completely cancel the bearish game.
However, If the bulls behave the way they do now, then the next bearish impulse has a settlement target of exactly $ 8000
Recommendation: close longs at take-offs to $ 15,500. Wait for the best prices for buying.
On the chart, we see a breakdown of a growing trend at record volumes.
True, the bulls still have a chance, if there is a quick return to the level of $ 19,000 by today or tomorrow and the closing of the week without the decline of the rate. However, it does not seem that any of them want to take this chance ...
So it looks like it is at best a transition to the outset.
The key level-indicator of whether it is the outset or the fall is $ 15,500. (Mid-fall and resistance level + slow moving average on the daily chart)
The buyers must overcome this level to cool the sellers. Overcoming the $17500 mark will completely cancel the bearish game.
However, If the bulls behave the way they do now, then the next bearish impulse has a settlement target of exactly $ 8000
Recommendation: close longs at take-offs to $ 15,500. Wait for the best prices for buying.
We recommend to open short position with target about $8000