Right now Bitcoin 0.81% is trading at a key price level of 8250... price has been consolidating at this quarter level for several hours signaling low levels of demand.
When buyers are not willing to purchase bitcoin 0.81% at higher price points this is when we notice things slow down as it is right now on the hourly time frame
Daily trend is still "bearish" until we see price move with significant force above 8600 which may bring us up to 9000
If you are bearish and interested in entering a sell position at 8250... target 1 is 8000 target 2 is 7750!
Sentiment right now in the market though is a slow grind up to higher price points so we will see if this demand continues as the week progresses as we still have not been able to surpass the high of this week :)
When buyers are not willing to purchase bitcoin 0.81% at higher price points this is when we notice things slow down as it is right now on the hourly time frame
Daily trend is still "bearish" until we see price move with significant force above 8600 which may bring us up to 9000
If you are bearish and interested in entering a sell position at 8250... target 1 is 8000 target 2 is 7750!
Sentiment right now in the market though is a slow grind up to higher price points so we will see if this demand continues as the week progresses as we still have not been able to surpass the high of this week :)