Since reaching an ATH at 20k last month, BTC has retrace to important level of supports consistent to the fib retracement.
We have seen price retrace and tested at 78.6% at $10800 and then tested the 61.8% region
From the daily chart perspective, EMA and MA indicates a bearish movement in the market. Also, base on the volume and the EMA, MA indicators, I think that there is a declining demand for btc in the market.
If the market bounce from this, it may go to a new all time high but I don't see that to happen anytime soon. If this support level does not hold, it may retest the 10k support level.
I will not buy this before seeing any positive indicator this coming days.
We have seen price retrace and tested at 78.6% at $10800 and then tested the 61.8% region
From the daily chart perspective, EMA and MA indicates a bearish movement in the market. Also, base on the volume and the EMA, MA indicators, I think that there is a declining demand for btc in the market.
If the market bounce from this, it may go to a new all time high but I don't see that to happen anytime soon. If this support level does not hold, it may retest the 10k support level.
I will not buy this before seeing any positive indicator this coming days.