Price is struggling at 6550 at the moment.
There are lots of buy orders above $6500.
If the price can stay above $6500, it is still possible for btc to continue its bullish move.
Although the pump may be due to USDT depreciation , we should bear in mind that if btc don't fall back to the starting point of the huge pump ($6300), there may be someone else buying bitcoin for other reasons than the depreciation of usdt which may be the catalysts of the new crypto bull market.
There are lots of buy orders above $6500.
If the price can stay above $6500, it is still possible for btc to continue its bullish move.
Although the pump may be due to USDT depreciation , we should bear in mind that if btc don't fall back to the starting point of the huge pump ($6300), there may be someone else buying bitcoin for other reasons than the depreciation of usdt which may be the catalysts of the new crypto bull market.
Note
BTCUSD (BITSTAMP) IS ALSO LOOKING FOR A BREAKOUT.Note
Also, I have to point out that the USDT depreciation is not an accident.Someone was buying before the huge pump.
This is the reversal pattern
Note
$6000 demand zone has been tested for six times.I think its unusual.................
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.