Today's Close may be indicator of a Reversal
We are experiencing a trade range above the 6900 support and yet still tracking around the trend line resistance that has performed for years as a lower bound of the channel of growth.
We should see confirmation within 3d and 4h if we maintain a sideways price movement if we close well above 7137-7200 and anytime before that is a positive sign of reversal.
There's still a strong chance of a further downward trend and we aren't out of the woods yet as volume is historically low through the end of last week and through this weekend. Without a major change in volume we will still be vulnerable to strong sellers pushing the price further down, but strong buyers could push us upward. This low volume does demonstrate a low demand in interest in BTC at the current pricing.
We should see confirmation within 3d and 4h if we maintain a sideways price movement if we close well above 7137-7200 and anytime before that is a positive sign of reversal.
There's still a strong chance of a further downward trend and we aren't out of the woods yet as volume is historically low through the end of last week and through this weekend. Without a major change in volume we will still be vulnerable to strong sellers pushing the price further down, but strong buyers could push us upward. This low volume does demonstrate a low demand in interest in BTC at the current pricing.
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