BTC/USD - Monday Volatility Update (Bearish Divergence)
Updated
Hello friends!
This is an update of a previous observation on the volatility of Bitcoin ( BTC ) on Mondays. I've highlighted the previous events which lead to this conclusion on the previous chart, which is linked below.
The price got rejected at the previously mentioned resistance at 9200.00. We see a strong reaction from the bears, attacking the market with a $600 decline in minutes. We can also see a bearish divergence.
I'm expecting the selling to continue once the other market participants see what happened. We usually have a lot of buy-volume on mondays.
That's when i expect the price to be at a good buy-zone for resuming the uptrend (8200.00 area).
Let me know what you think!
cheers,
cryptobuller
This is an update of a previous observation on the volatility of Bitcoin ( BTC ) on Mondays. I've highlighted the previous events which lead to this conclusion on the previous chart, which is linked below.
The price got rejected at the previously mentioned resistance at 9200.00. We see a strong reaction from the bears, attacking the market with a $600 decline in minutes. We can also see a bearish divergence.
I'm expecting the selling to continue once the other market participants see what happened. We usually have a lot of buy-volume on mondays.
That's when i expect the price to be at a good buy-zone for resuming the uptrend (8200.00 area).
Let me know what you think!
cheers,
cryptobuller
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