Hello guys.
After an attempt to rebound of some days ago, BTCUSD at the moment appears very weak and destinated to return below $5000.
It's very likely once it broke $6000 (S1) area, prices are destinated to come back to the first support in area $5400 (S2) and then there is room
to fall around $4400 (S3), where there is a strong supportive area.
The thing supporting this view is volume: when prices try to go up, volume is always thin, on the contrary when prices fall, volume is many times bigger than
rising days: you can take as an example the yersterday trading day. It's a very negative feature.
Indicators are not very useful in this moment.
To sum up:
1) if prices break S1: $6000----> S2:$5400,
2) if prices break S2: $5400----> S3: $4400.
***This analysis is not a buy or sell advice, it is drawn up for educational purpose only***
After an attempt to rebound of some days ago, BTCUSD at the moment appears very weak and destinated to return below $5000.
It's very likely once it broke $6000 (S1) area, prices are destinated to come back to the first support in area $5400 (S2) and then there is room
to fall around $4400 (S3), where there is a strong supportive area.
The thing supporting this view is volume: when prices try to go up, volume is always thin, on the contrary when prices fall, volume is many times bigger than
rising days: you can take as an example the yersterday trading day. It's a very negative feature.
Indicators are not very useful in this moment.
To sum up:
1) if prices break S1: $6000----> S2:$5400,
2) if prices break S2: $5400----> S3: $4400.
***This analysis is not a buy or sell advice, it is drawn up for educational purpose only***