BTC experiences a volatile session as price surges at noon after slumping with expanding volumes in the early morning.
Though price gets really close to $6,000, we’ve seen no signs of dumping chips so far as indicated by price action on daily chart.
Even if bulls counterattack, rally remains weak as bears still dominate the market. Bottom can’t be reached to for now even bulls manage to push price up.
Light or empty positions are still recommended.Volumes during current downtrend is clearly lower than that of last round, indicating that price will receive strong support from the major support at $6,000.
It takes time for the support at $6,000 to be digested, thus making it possible for another wave of rally to be initiated near $6K.
Daily traders is estimated to push price up before it falls to 6K, bounces caused by such behaviors are believed to be as weak as usual.
That’s why the target should be set at MA 5 for now. Price holds greater chances to initiate minor rallies in the next few hours, the overall downtrend remains unchanged.
Sorry but bear is still there.
Original by Kuang Ren, translated and posted by AICoin Jami.
Full-version:
https://www.aicoin.net.cn/article/19096.html
