Tight Range in the Bitcoin Market
Let´s have a look on the BTC 1h chart.
The market is in a consolidation area right now, after the Bears rejected the price at 8800 USD.
The candles are very small, and there is no volume in the market.
Yesterday we were witness of a long dark candle, which formed a "bearish engulfing pattern" (very bearish sign).
This candle was confirmed by a strong selling volume.
My expectation is a trend continuation downward.
The market is in a consolidation area right now, after the Bears rejected the price at 8800 USD.
The candles are very small, and there is no volume in the market.
Yesterday we were witness of a long dark candle, which formed a "bearish engulfing pattern" (very bearish sign).
This candle was confirmed by a strong selling volume.
My expectation is a trend continuation downward.
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