Bitcoin is seeing continued expansion in bearish trading volume, with no clear signs of a bottom forming yet. Don’t rush to buy the dip and go long. On the one-hour chart, the candlesticks have plunged in a near-vertical, waterfall-like drop, with almost no resistance from the bulls.
The price has already fallen below the previous support at 83000 and retreated into the lower range. Keep a close eye on the key level at 81500. If it holds and the price doesn’t make a new low, the bullish momentum may still be intact.
Suggested trade:
Go long in the 81500–81000 range
Target: 83000–84000#BTC
The price has already fallen below the previous support at 83000 and retreated into the lower range. Keep a close eye on the key level at 81500. If it holds and the price doesn’t make a new low, the bullish momentum may still be intact.
Suggested trade:
Go long in the 81500–81000 range
Target: 83000–84000#BTC