Art_of_Trading

BTCUSD: Bitcoin - Who controls the price - Sellers or Buyers?

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
The BTC             did not make much move in the past few hours. It dropped significantly yesterday that touched with previous structure low at $9428 area and bounced back instantly. Then it touched again and repeat the same pattern. Now, the price is an indecision form. Thus, these creates two potential scenarios that may develop today.

First, the market may respect the previous support level and raise. Second, the sellers may get control the price once again and breakout that structure. I will await the next few hours to see the price action and then place the order accordingly.

- Follow & Comment -
It looks like the lower scenario is playing out. Right?
Reply
@ambrosia, Yes, the price already broke the structure low.
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