Bitcoin continues to decline. Its support level in the area of $ 7,200 - $ 7,400, which also coincided with the Fibonacci level of 0.618, could not restrain sellers, and the price rushed lower. Now the price has fixed below the support zone of $ 7,200 - $ 7,400, which tells us that really interested buyers haven`t yet appeared in the market — if they had, they would begin to move the price up.
.
Technically, we trade under the support level, 20EMA and 50EMA crossed 200EMA, all indicators are in the downtrend, so far everything doesn't look extremely optimistic for bitcoin. The next potentially interesting for purchases is in the area $ 5,500 - $ 6,000, where there is a large concentration of stops -orders, which the market makers are likely to follow. Now a slight correction of the price for a mirror-level retest of $ 7,400 is possible, if the price fails to break higher and gain a foothold over it, a further decrease is expected to below the esignated area of about $ 6,000.
.
Technically, we trade under the support level, 20EMA and 50EMA crossed 200EMA, all indicators are in the downtrend, so far everything doesn't look extremely optimistic for bitcoin. The next potentially interesting for purchases is in the area $ 5,500 - $ 6,000, where there is a large concentration of stops -orders, which the market makers are likely to follow. Now a slight correction of the price for a mirror-level retest of $ 7,400 is possible, if the price fails to break higher and gain a foothold over it, a further decrease is expected to below the esignated area of about $ 6,000.