Bitcoin´s weekly chart analysis
Bitcoin / U.S. dollarBitstamp
Description
⋅ Another week has come to end, which was less exiting for many traders, but not unimportant.
Yes, the price of BTC remains in the range.
The weekly candle´s long upper shadow shows, that the Bulls were rejected at the resistance line and they couldn´t hold the price in the higher area.
The sellers were stronger and pushed the price to the lower boundary back, which was touched already three times.
Strong bearish volume in the market confirms the pressure on the seller side.
The price could remain for a short while in the range, but a breakout downward is coming closer.
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