Temporary bottom seems to be in for BTC

We had some slight signs of accumulation a few days ago, and when price broke downwards it was supported by buyers. We now seems to be in some sort of absorption phase on the 5 min, signs of a test upwards. If we have indeed been accumulating at the higher price levels as we suspect, we will probably go back to that level for a brief time before testing much higher.

The long play is the less risky move right now.

5 min

Comment:

Price broke down the area we thought was the accumulation zone and is now again ranging. We're a bit more confident that this is the possible bottom since we've been hanging around here for a few days and the selling pressure has largely been withdrawn.

1 day

30 min