BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Dear Traders

The crypto markets are down in the dumps again and as is usual in situations like this, all self called experts, explaining why prices are heading south again. One of the commonest comments is that buyers have vanished.
I don't agree with this.
The true is that the sellers are unable to find buyers at the prices they’d want and that the prices are led by sellers and buyers. In effect, there are not enough buyers for current price and that why price is falling.
This is the situation we can see today and last example when XRP hit bottom and rebound immediately, that is showing that there are many buyers just waiting for attractive price.
So lets look at our BTC chart at the moment BTC look overbought (red ellipse) so we can expect price fall.
I have marked two possible buying opportunities on a way down so please watch all indicators and signals when trading.
I expect strong price rebound when we hit $6000 and then we will look on top red resistance line which is like big wall and when price will grow strong above that line we can expect another long rail up.

Good luck and Happy Trading

This is for education purpose only.


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