Bitcoin rate will soon finish its fall, completing the correction near the $ 8000 - $ 7,800 zone. Otherwise, the cryptocurrency market is waiting for a huge collapse if Bitcoin goes below $ 7,800.
Priority of the day: sell BTCUSD with a target of $ 7,800.
From the $ 8000 level, a sharp bounce of Bitcoin's price is possible. From experience we can say that near the important support zone $ 7800 - $ 8000 the most unpredictable actions of market participants can occur:
A) sharp and rash sales of crypto assets: doji, large tails;
B) unwillingness at all to buy or sell anything: flat;
C) two-way struggle of buyers and sellers: sharp thrusts of the rate of the crypto-assets in both directions.
Projected scenarios:
1. We sell BTCUSD from $ 8,200 to $ 8,000.
2. Flat in the area of $ 8,400 - $ 8,200 until the end of the day.
An alternative scenario:
The Bitcoin rate can rise very sharply from $ 8,200 to $ 8,600. We also expect this. The crowd of investors must lose their money so that experienced traders can earn. And only then, when everyone is already disappointed in Bitcoin, its rate will go up. But, few of the newcomers of the market will remain with their deposits.
Priority of the day: sell BTCUSD with a target of $ 7,800.
From the $ 8000 level, a sharp bounce of Bitcoin's price is possible. From experience we can say that near the important support zone $ 7800 - $ 8000 the most unpredictable actions of market participants can occur:
A) sharp and rash sales of crypto assets: doji, large tails;
B) unwillingness at all to buy or sell anything: flat;
C) two-way struggle of buyers and sellers: sharp thrusts of the rate of the crypto-assets in both directions.
Projected scenarios:
1. We sell BTCUSD from $ 8,200 to $ 8,000.
2. Flat in the area of $ 8,400 - $ 8,200 until the end of the day.
An alternative scenario:
The Bitcoin rate can rise very sharply from $ 8,200 to $ 8,600. We also expect this. The crowd of investors must lose their money so that experienced traders can earn. And only then, when everyone is already disappointed in Bitcoin, its rate will go up. But, few of the newcomers of the market will remain with their deposits.