Bitcoin is currently trading in an area where buyer strength is very weak, and the market is stuck in a range. After a breakout from this range, we can expect a strong trend — but in which direction?
As you can see, buyers lack strength. If you look closely at the price action candle by candle, every attempt to move higher is rejected with long upper wicks, showing a lack of buying interest. On the other hand, sellers step in with a few strong bearish candles and push the price back down.
This behavior increases the probability of a downside move after the range breakout. However, an upside move is still possible if price starts moving with strong momentum and the breakout holds with.
As you can see, buyers lack strength. If you look closely at the price action candle by candle, every attempt to move higher is rejected with long upper wicks, showing a lack of buying interest. On the other hand, sellers step in with a few strong bearish candles and push the price back down.
This behavior increases the probability of a downside move after the range breakout. However, an upside move is still possible if price starts moving with strong momentum and the breakout holds with.
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Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como, asesoramiento o recomendaciones financieras, de inversión, de trading u otro tipo, proporcionadas o respaldadas por TradingView. Obtenga más información en Condiciones de uso.