Returned to the flat diapason? Bitcoin analytics 05.11
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What is happening now? Most likely, we again entered the flat range of 6350-6490, in which we will continue to trade for several days. Then there will be an exit to one of the parties.
It is unlikely that we will fall down right now, since now it’s not typical for a Bitcoin to jump 100 points in different directions. Yes, decreasing to the price of 6300 is still possible, but there have already appeared enough limit orders to stop the fall.
Another important point: we are fixed above the global downward, which gives us the first signs of a reversal or upward momentum. The key level is now 6500. As soon as it is broken through, there will be volume that will be able to push the price up to 6700.
In addition to all this, the short was reduced by more than 8 thousand. For a bear market, this is generally not typical. Most probably, there is a big player behind these shorts, and if he has closed his big short, this already means that he does not expect a further fall.
Thoughts are like that. Wait new analytics!
What is happening now? Most likely, we again entered the flat range of 6350-6490, in which we will continue to trade for several days. Then there will be an exit to one of the parties.
It is unlikely that we will fall down right now, since now it’s not typical for a Bitcoin to jump 100 points in different directions. Yes, decreasing to the price of 6300 is still possible, but there have already appeared enough limit orders to stop the fall.
Another important point: we are fixed above the global downward, which gives us the first signs of a reversal or upward momentum. The key level is now 6500. As soon as it is broken through, there will be volume that will be able to push the price up to 6700.
In addition to all this, the short was reduced by more than 8 thousand. For a bear market, this is generally not typical. Most probably, there is a big player behind these shorts, and if he has closed his big short, this already means that he does not expect a further fall.
Thoughts are like that. Wait new analytics!
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