Bitcoin Price Analysis: Waiting For Consensus 2018Last week hasn't brought a positive to bulls and the price still slowly, but surely began to fall down. The level of $ 10 000 remained untouched.
The week candle has turned out bear. In general the structure of the movement begins to remind the middle of February — the beginning of March when the price has broken resistance around $11 700, several times tested it, and then has strongly rolled away down.
The daily chart also has a characteristic rounding, indicating the pressure of the sellers. Just overnight the bears strengthened the advantage.
btcusd2 may
If we loor at smaller chart the price moves very technically, forming triangles and channels, fulfilling their width. Now the price is moving in the framework of two large horizontal channels with a width of approximately $ 900.
This week bears will seek to strike through the level of $8100 where was formed support. If they manage to break it, the next target will be $ 7500.
Bulls also need to break through several important levels of $ 8,600 (the descending local trend line), $ 9,100 and $ 10,000. Only after the breakdown of the psychological mark of $ 10,000, the doors to $ 11,700 will open...
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