Hello Everyone!! I see lot of people waiting low 6k or even high 5k levels to long BTC. And every time we enter high 6k levels and jump above 7k I see people getting rekt, thinking they missed out their buying opportunity. The key is to ask your self, " What changed in a hour?" . Usually the answer is "Nothing!". So lets dive right into the chart and try to make sense of the price movements.
So, as we could see on the chart we are in a zone where we have tested these levels multiple times from bottom and up. There are two main issues that hits the eye directly. The first one is we have been struggling to make new highs within the zone. It shows that we have been slowly but surely descending. The second issue is the volume. There is no signs of recovery of volume.Even the instant FOMO spikes have been decreasing. So the volume isn't there to hold these levels. Until we see a break trough a higher high and a steady increase in volume, bearish perspective holds.
As always just a thought not an advice! Stay Safe !
Previouse Analysis:
So, as we could see on the chart we are in a zone where we have tested these levels multiple times from bottom and up. There are two main issues that hits the eye directly. The first one is we have been struggling to make new highs within the zone. It shows that we have been slowly but surely descending. The second issue is the volume. There is no signs of recovery of volume.Even the instant FOMO spikes have been decreasing. So the volume isn't there to hold these levels. Until we see a break trough a higher high and a steady increase in volume, bearish perspective holds.
As always just a thought not an advice! Stay Safe !
Previouse Analysis:
