Typically any significant point passed has to be confirmed in that ceiling before we go onto to make reliable new lows. At present I see the market as consolidating and confirming the upper ranges of BTC. We've tried and failed to pass the weekly average, now also below the 2 day average and until we break the overall trend from the ATH which is around 40k then it will likely continue in this disappointing way.
Possibly if we fail to act positively for the next week or so then we do break downwards then.
For the moment we are not in the lowest range of pricing and staying above that is some small positive action. It would be far better if we close above 37k or the blue line here which is 2 day average, over the weekend then it might prove positive.
