Greetings all!
As always - fundamentals first. Market capitalisation 1100 billion, dominance index 47.67%. The Fear & Greed Index is 51 (Neutral Sentiment).
The BTC price followed a downside scenario in line with our previous analyst article.
The price withdrew liquidity at 26362. The price low was set overnight at 25870.
A strong resistance zone has now formed between the levels 26900-27100 - this zone coincides with the middle of the descending channel.
The important level below is 25811 - the previous low.
Now we need to watch the price movement near the above mentioned zones. The general trends are downward with small bounces to the resistance zones.
Scenario 1 - downside
From the current price we may expect a small correction of the recent fall, up to the resistance level of 26900-27100, from where we can get a reaction to the downward movement. If the price fixes below the level of 25811, we can already speak about a scenario of a move towards 25200 as a correction of the previous rise.
Scenario 2 - upside
It is logical to look at the long position after the price fixes above the resistance level of 26900-27100 with the targets of ~29000.
Good luck and patience to all of you!
Always in touch,
Relictum Analyitcs
As always - fundamentals first. Market capitalisation 1100 billion, dominance index 47.67%. The Fear & Greed Index is 51 (Neutral Sentiment).
The BTC price followed a downside scenario in line with our previous analyst article.
The price withdrew liquidity at 26362. The price low was set overnight at 25870.
A strong resistance zone has now formed between the levels 26900-27100 - this zone coincides with the middle of the descending channel.
The important level below is 25811 - the previous low.
Now we need to watch the price movement near the above mentioned zones. The general trends are downward with small bounces to the resistance zones.
Scenario 1 - downside
From the current price we may expect a small correction of the recent fall, up to the resistance level of 26900-27100, from where we can get a reaction to the downward movement. If the price fixes below the level of 25811, we can already speak about a scenario of a move towards 25200 as a correction of the previous rise.
Scenario 2 - upside
It is logical to look at the long position after the price fixes above the resistance level of 26900-27100 with the targets of ~29000.
Good luck and patience to all of you!
Always in touch,
Relictum Analyitcs
