Bears dump yesterday at midnight, as often the case. Heavy volume showed that bear are determined to push price below technical support around 3560. There may be some buying power that will come in to catch this rebounce. Due to the steep drop last week, MACD probably would forge a positive divergence after price continued dropping.
Overall picture is still bearish, considering the fact that 3500 is not a major technical support. 3000 - 3200 likely to be the key resistance level that bulls may seriously defend, and in which I expect fundamental buyers might acquire some BTC for long term purpose.
Overall picture is still bearish, considering the fact that 3500 is not a major technical support. 3000 - 3200 likely to be the key resistance level that bulls may seriously defend, and in which I expect fundamental buyers might acquire some BTC for long term purpose.
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