Bitcoin Price Analysis: Not Another Step Backwards
The last week as expected ended with correction. The $ 7400 level was so good that many active speculators began to sell it. True, I did not think that the price would fall so low, the expected correction point was the $ 6700 zone.
However, speculators decided to play clearly from the levels and drove the price at $ 6100- $ 6200, from which already several strong growth began. Thus, long-term resistance again stood.
What movements can now follow? I think that there will be an accumulation of volumes for Long to return to the level of $ 7000. Perhaps this week will make a puncture level of $ 6000 and from there strongly upward. But still I think that this will not be allowed.
The level of $ 5750 is the key - all this is seen and known. It seems to me that the manipulators will not break through it, so as not to seriously cool the interest in cryptocurrencies.
On the other hand, now many earn on falls, trading with the shoulder. If two or three years ago, there were no such opportunities or practically none, now there are a lot of such opportunities.
As expected, the week should end with a bull body, or the reversal doji will again form.
Also on the chart, the opportunity to implement W with a goal above $ 10 000 is retained. At the same time, the figure will cease to exist if the price goes below $ 5750.