Bitcoin Hesitates

Bitcoin has not yet earned back the love of investors, the best confirmation of which in the cryptocurrency market are, of course, volumes- they remain at an average level. Therefore, the buyers only managed to fulfill the minimum goal set for yesterday, keeping the price above $8,200. At $8,380 there is a mirror resistance level, which exerts more pressure on the asset than we expected. After overcoming this level and breaking the “double top” pattern, the bulls can test their strength in reaching the next target range of $8,600-$8,700.

Keeping in mind the presence of a manipulator in the market, the price movements described above could be called “small potatoes,” although out of respect to the oldest asset, the official term is “organic growth.” At any moment, we could see a long green candle (like the one that turned the market around on April 12), or a red one with a length of $500-$700.

During the weekend, the prospective target for buyers is the interval of $9,200-$9,300, coinciding with a strong mirror resistance level. However, it is quite likely that some investors will decide to book profits at the psychological mark of $9,000. In case of negative developments, Bitcoin can fall back to the nearest resistance at $7,800-8,000. We also continue to keep in mind the level of $7,500, but the likelihood of reaching it has diminished since yesterday even more.

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