Bitcoin rate finally stuck in the lateral movement. Bitcoin buyers are desperate to keep the level of $ 7300 and do not let its rate fall further.
The analysis of Bitcoin volumes shows the beginning of the balance phase: buyers and sellers are satisfied with the current rate. In such a situation it is very difficult to predict who will win: bulls or bears.
Priority of the day: neutral position on BTCUSD.
Now the probability is 50/50 that Bitcoin's rate either drops to $ 7000 or rises to $ 7800. Those who hold a short position on Bitcoin can still wait, because the trend is bearish, and it has not changed yet. And those who did not manage to enter Bitcoin position, we recommend waiting, soon the bulls will appear.
Projected scenarios:
1. Sell BTCUSD from $ 7400 to $ 7000.
2. Buy BTCUSD from $ 7400 to $ 7800.
An alternative scenario:
The worst scenario for us - Bitcoin's rate will continue the lateral movement for a couple of days.
The analysis of Bitcoin volumes shows the beginning of the balance phase: buyers and sellers are satisfied with the current rate. In such a situation it is very difficult to predict who will win: bulls or bears.
Priority of the day: neutral position on BTCUSD.
Now the probability is 50/50 that Bitcoin's rate either drops to $ 7000 or rises to $ 7800. Those who hold a short position on Bitcoin can still wait, because the trend is bearish, and it has not changed yet. And those who did not manage to enter Bitcoin position, we recommend waiting, soon the bulls will appear.
Projected scenarios:
1. Sell BTCUSD from $ 7400 to $ 7000.
2. Buy BTCUSD from $ 7400 to $ 7800.
An alternative scenario:
The worst scenario for us - Bitcoin's rate will continue the lateral movement for a couple of days.