Bitcoin's rate is slowly growing. It was able to break through the resistance line (the red line on the chart) but has not yet fixed above it.
Analysis of Bitcoin volumes shows the interest of buyers, but it's too early to rejoice. The current situation with Bitcoin may simply be an extension of the resistance line, in order to lure the bulls more into the den to the bears. The bearish trend has not changed, so you need to be vigilant.
Priority of the day: BTCUSD purchases with a target of $ 7800.
The level of $ 7800 was not chosen by chance, there were maximum volumes for the sale of Bitcoin. We believe that around $ 7800, bears can take the initiative.
Projected scenarios:
1. Buy BTCUSD from $ 7325 to $ 7800. We will search for the entry point for Bitcoin's purchase after the rollback of its rate to the zone: $ 7300 - $ 7200.
2. The Bitcoin rate may avoid doing a deep rollback and slowly rise to our target.
An alternative scenario:
A nightmare scenario: bears from the zone: $ 7600 - $ 7400 will begin to lower Bitcoin's rate down to $ 6800. A fairly logical scenario, given that the trend is still bearish. That is why it is advantageous to open deals on a rollback: around $ 7300 - $ 7200 we will already see large volumes for the sale of Bitcoin near $ 7600 - $ 7400, and we will not go into purchases.
Analysis of Bitcoin volumes shows the interest of buyers, but it's too early to rejoice. The current situation with Bitcoin may simply be an extension of the resistance line, in order to lure the bulls more into the den to the bears. The bearish trend has not changed, so you need to be vigilant.
Priority of the day: BTCUSD purchases with a target of $ 7800.
The level of $ 7800 was not chosen by chance, there were maximum volumes for the sale of Bitcoin. We believe that around $ 7800, bears can take the initiative.
Projected scenarios:
1. Buy BTCUSD from $ 7325 to $ 7800. We will search for the entry point for Bitcoin's purchase after the rollback of its rate to the zone: $ 7300 - $ 7200.
2. The Bitcoin rate may avoid doing a deep rollback and slowly rise to our target.
An alternative scenario:
A nightmare scenario: bears from the zone: $ 7600 - $ 7400 will begin to lower Bitcoin's rate down to $ 6800. A fairly logical scenario, given that the trend is still bearish. That is why it is advantageous to open deals on a rollback: around $ 7300 - $ 7200 we will already see large volumes for the sale of Bitcoin near $ 7600 - $ 7400, and we will not go into purchases.