One possible scenario: We can go lower with the wave A correction so the could change a little. On a 4 hour time frame we have a nice rejection bar which could convince the market that is time for a bounce upwards. The sell off has slowed down and we should expect some buyers stepping in.
Is BTC in a bad mood or what is going on? The confidence in the market is deteriorating again but hey look at the bright side, we can get BTC cheaper again :).
Will update once we get more info.
Now how about that stuff, very interesting seeing this?
Cannot be a coincidence. At first it looks like there were two sellers, who knows? just saying.
The 4 hours time frame below give us some clues of what the market might do:
I can see that is slowly running out of steam, you probably heard the expression "the silence before the storm" which could mean only one thing, the market is about to decide which direction to take. this could take some time but eventually is going to show it's true intentions. The MACD is supporting an up movement
with RSI also on the same side, but the volume is just not there. It could come any time as yesterday, but could be enough for a strong bounce to the upside? Will have to wait and see.
The daily time frame below is telling same story: we closed yesterday with a green doji and so far we have a pin red bar that still means the market hasn't decided where to go. Is probably to early to tell. I think majority of traders are now waiting for clear signs so stay stunned for that.
Overall we don't have yet clear signs for the direction but if the bulls cannot find the straight to take the control, the bears will take advantage, after all we are still on bear territory for some time.
Wait for confirmation with strong volume before deciding to buy.
Does Japan 9.00 am your time coincides with one of your hours mentioned above :-)?
We are currently seeing a small pull back, do you think it could last? And which level it may reach? Thanks!