Bitcoin failed to test the previous high, focus on pullback risk
Yesterday, bulls released funds to push the price in order to test the previous high around $9500, however, trend was suppressed just by $9400.
This is a signal that bulls getting weakness which compared with the first time when testing $9500. The volume chart also shows this, as the rebound this time has an obvious lower level of volume than the prevous one, and analysing from the form, the second top is a little bit lower than the first one and the bullish volume is also lower, this is an hourly level of doulbe top pattern, falling risk is increasing, and now focus on $9150~$9000 support area, this is a crucial area as if the price can stabilize on here after pullback, it's possible to test $9500 for the third time.
Otherwise, $8770, $8600 and $8400 will be the next three effective support positions.
Investors should be noticed that if there is no pullback signal within today, and bullish volume has a growing signal, it's not impossible to test $9500 again today.
🚀BTC Short-term Trading signal:
short: open around 9300~9400
close 1: 9190
close 2: 9050
close 3: 8850
stop loss: 9500 Become member of OKEx and enjoy more services : okex.com/join?channelFlag=ACECO2501021
This is a signal that bulls getting weakness which compared with the first time when testing $9500. The volume chart also shows this, as the rebound this time has an obvious lower level of volume than the prevous one, and analysing from the form, the second top is a little bit lower than the first one and the bullish volume is also lower, this is an hourly level of doulbe top pattern, falling risk is increasing, and now focus on $9150~$9000 support area, this is a crucial area as if the price can stabilize on here after pullback, it's possible to test $9500 for the third time.
Otherwise, $8770, $8600 and $8400 will be the next three effective support positions.
Investors should be noticed that if there is no pullback signal within today, and bullish volume has a growing signal, it's not impossible to test $9500 again today.
🚀BTC Short-term Trading signal:
short: open around 9300~9400
close 1: 9190
close 2: 9050
close 3: 8850
stop loss: 9500 Become member of OKEx and enjoy more services : okex.com/join?channelFlag=ACECO2501021
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