It seems that bitcoin price this year is hard to predict, a few days ago when the price reached $ 9900 then I'm very confident that the price will soon reach $ 10k, but when I woke up the price dropped to $ 9300.
That was not really that difficult to predict, I was pretty sure that as soon as bitcoin got very close to the price of 10000 the price will drop and the reason for that is that many traders will see that as a psychological barrier that bitcoin will not be able to overcome so soon and so they put short orders when the price was close to 10000 and that is what made the price to drop.
Yeah, looking at how the buying momentum was gradually diminishing close to that spot with the bearish divergence on the MACD. Like most other bitcoin believers here, I am also seeing a big positive reversal from the current levels. It would have happened in the last week itself, but definitely it will happen this week for sure.
Yes, that was a huge psychological barrier and that was the spot every trader was simply looking at to see how thing will end up turning out from there and simply, here we are in a downtrend correction and simply looking at where to go next. I am looking at getting a good support at $7800, but breaking that, should send us lower.