Hi Traders,
Back with another BTC update. Currently rejected support at $51500 and now consolidating. Price can go either way from here. If we get a push up and out of the consolidation range with buy volume support we can then take that as confirmation of price moving higher. However as it stands there's still yet to be buy volume to come into the market. Its the end of the tax year in many places hence the selling of we've seen more recently. We're also coming to the end of the working week which leads us to think that there could be one last bleed in the markets. There is also major support at the $50k area due to being a round number and a psychological price. Therefore its crucial to stay in close connection with the charts as we may be presented with great LONG entries.
Thanks
The Market Sniper Team
Back with another BTC update. Currently rejected support at $51500 and now consolidating. Price can go either way from here. If we get a push up and out of the consolidation range with buy volume support we can then take that as confirmation of price moving higher. However as it stands there's still yet to be buy volume to come into the market. Its the end of the tax year in many places hence the selling of we've seen more recently. We're also coming to the end of the working week which leads us to think that there could be one last bleed in the markets. There is also major support at the $50k area due to being a round number and a psychological price. Therefore its crucial to stay in close connection with the charts as we may be presented with great LONG entries.
Thanks
The Market Sniper Team
