Thursday report of Bitcoin

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Good afternoon, From the point of view of the technical analysis of methodology of Waykoff it is possible to assume that reaction about 6000 it was the "sellingclimax" as the increased volume and spread. Usually such bar says that panic sellings of crowd were absorbed by "smart money". Then the "automatic rally" and a few of tests which mean borders of trade ranges (6-12) follows. That it is possible to wait for the secondary test of the "selling climax" and leaving of the price is closer to level to 6000. If to speak about intraday, then expect reaction to level 7200 as with this level earlier exits volume purchases and traders will react to this level.
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