Hi, guys, another eventless week begins as Bitcoin price continue its sideway downtrend.
Price prospect looks gloomy in 4H chart, slowly drifting down to $7,000, no buying or selling movement emerging, a sign that the bear market aggravates.
Technical pictures indicate even bleaker at the moment. $7,000 may sit as resistance because in the thousands integer always attract some buying force, but the trading volume is meager. Therefore, there's a high likelihood that bear would push the price below $7,000 soon.
horizontal support 1: 6850
horizontal support 2: 6600
Price has stayed below pivot point which is around $7250 for a few days, a bearish sign.
Moving average both 200 and 50 are clearly tilting down.
Price prospect looks gloomy in 4H chart, slowly drifting down to $7,000, no buying or selling movement emerging, a sign that the bear market aggravates.
Technical pictures indicate even bleaker at the moment. $7,000 may sit as resistance because in the thousands integer always attract some buying force, but the trading volume is meager. Therefore, there's a high likelihood that bear would push the price below $7,000 soon.
horizontal support 1: 6850
horizontal support 2: 6600
Price has stayed below pivot point which is around $7250 for a few days, a bearish sign.
Moving average both 200 and 50 are clearly tilting down.
