Bitcoin started the day with a rally and tried to make a breakthrough its downtrend. However, sellers were able to defend the 
12K level and brought bitcoin where it opened,
This rejection confirms us in our previous forecast as we expect the following days to see Bitcoin's prices to whipsaw in a new accumulation phase.
The stochastic indicator is issuing a bearish signal over the short-term as it crosses back the overbought line toward the neutral territory. This confirms our forecast that Bitcoin shall evolve between its downtrend and $11k level for the days to come.
Once volume will rise, then we expect a strong upward movement to occur as long as buyers are able to defend the supports level at $9k and $7.5k.
Raphaël Comte
Investment Analyst at Token Metrics
Disclosure: Token Metrics is a regular publication of information, analysis and commentary and does not provide individually tailored investment advice. Its principal has advised and invested in many blockchain companies. A complete list of his disclosures, advisory roles and current holdings can be viewed here: ianbalina.com/pages/transparency................................. .
12K level and brought bitcoin where it opened,This rejection confirms us in our previous forecast as we expect the following days to see Bitcoin's prices to whipsaw in a new accumulation phase.
The stochastic indicator is issuing a bearish signal over the short-term as it crosses back the overbought line toward the neutral territory. This confirms our forecast that Bitcoin shall evolve between its downtrend and $11k level for the days to come.
Once volume will rise, then we expect a strong upward movement to occur as long as buyers are able to defend the supports level at $9k and $7.5k.
Raphaël Comte
Investment Analyst at Token Metrics
Disclosure: Token Metrics is a regular publication of information, analysis and commentary and does not provide individually tailored investment advice. Its principal has advised and invested in many blockchain companies. A complete list of his disclosures, advisory roles and current holdings can be viewed here: ianbalina.com/pages/transparency................................. .
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.
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.