As you can see by the red box, bitcoin has struggled to break the 9.4-9.6k range of support - and badly. The sell volume following that spike was huge. Bitcoin's first resistance in which it could have bounced was 8.9-9k. There was a very noticeable lack of buy volume at these levels and thus it's safe to assume we're headed to the next support zone in the green box pictured. The caveat is that buy volume at these levels picks up later. But as we all know, when bitcoin finds bottoms it bounces hard... and on high volume. That didn't happen here. See ya at 8.4k.
Comment:
Target still plausible. Failed again to break 9.4-9.6k and are retesting 9.4k support for the third time in a few days. Bearish signs. We need a close about 9.5k to have a more bullish bias
Trade closed: target reached:
mmmm mmmm mmmmmmmmmmm