Our forecast for a bounce of Bitcoin rate to $ 6400 did not come true: bears continue their feast on the crypto market.
Priority of the day: sell BTCUSD with a target of $ 5500.
The bearish trend of Bitcoin is in force. Judging from the current Bitcoin situation, we can say that the reversal level for bulls is $ 7000. While Bitcoin's rate is rapidly renewing its lows it is a downtrend.
We will search for the entry point to Bitcoin's sale only after it is rolled back up; nearest zone: $ 6300 - $ 6100.
Projected scenarios:
1. The rate of BTCUSD will drop from $ 6000 to $ 5500.
2. The rate of BTCUSD will be in flat.
An alternative scenario:
While the strength of the bears is obvious, the backup plan remains the same - the growth of Bitcoin to the reversal level of $ 7000.
Priority of the day: sell BTCUSD with a target of $ 5500.
The bearish trend of Bitcoin is in force. Judging from the current Bitcoin situation, we can say that the reversal level for bulls is $ 7000. While Bitcoin's rate is rapidly renewing its lows it is a downtrend.
We will search for the entry point to Bitcoin's sale only after it is rolled back up; nearest zone: $ 6300 - $ 6100.
Projected scenarios:
1. The rate of BTCUSD will drop from $ 6000 to $ 5500.
2. The rate of BTCUSD will be in flat.
An alternative scenario:
While the strength of the bears is obvious, the backup plan remains the same - the growth of Bitcoin to the reversal level of $ 7000.