Crypterium News
Over the past week, the price of Bitcoin has decreased by 3% and still remains around $30,000
Bitcoin made attempts to break through the lower boundary of the channel at $28,800. At this moment, the bulls became active and quickly returned the price back to the channel. Over the weekend, the price finally reversed and has been showing growth for the third day in a row.
During the breakdown of the lower border of the side channel, trading increased significantly ,and we saw an intraday confrontation between bulls and bears. However, with growth, we do not see an increase in the volume of trades. This is suggestive of a bull trap.
Moreover, this week the monthly candle closes, and the summer season opens, which is low volatile. Traditionally, at this time there is a decrease in activity in the market. All this suggests that the growth of recent days is a bait for market participants.
Therefore, in the current week, we expect to see a final downward reversal with a climax. This will lead to the collapse of the altcoin market. The cancellation of this scenario will be the closing of the monthly candle on Tuesday above $35,000.
So the months candle close is coming. Not alot of volume of trades. If btc closing monthly candle is above $35,000 things can look abit bright. What's your btc price prediction?
btc
#altcoins #cryptohighslows ⭕ Crypterium News ⭕
⚡Over the past week, the price of Bitcoin has decreased by 3% and still remains around $30,000
Bitcoin made attempts to break through the lower boundary of the channel at $28,800. At this moment, the bulls became active and quickly returned the price back to the channel. Over the weekend, the price finally reversed and has been showing growth for the third day in a row.
During the breakdown of the lower border of the side channel, trading increased significantly ,and we saw an intraday confrontation between bulls and bears. However, with growth, we do not see an increase in the volume of trades. This is suggestive of a bull trap.
Moreover, this week the monthly candle closes, and the summer season opens, which is low volatile. Traditionally, at this time there is a decrease in activity in the market. All this suggests that the growth of recent days is a bait for market participants.
Therefore, in the current week, we expect to see a final downward reversal with a climax. This will lead to the collapse of the altcoin market. The cancellation of this scenario will be the closing of the monthly candle on Tuesday above $35,000.
So the months candle close is coming. Not alot of volume of trades. If btc closing monthly candle is above $35,000 things can look abit bright. What's your btc price prediction?
btc #altcoins #cryptohighslows