FX.co ★ teagan.orn | #Bitcoin chart analysis

#Bitcoin

Hello traders! By now, everyone has seen how the beloved cryptocurrency #Bitcoin has experienced a significant price drop, affecting many financially, particularly investors and holders of this cryptocurrency rather than traders. Overall, the situation is not critical, but the price is tightly squeezed in the range between 94,650 and 80,500. Currently, I do not see much interest in long positions, but the potential for shorting is clearly present. In my opinion, the overvalued asset zone encourages the initiative to continue selling, at least in short positions, which does not attract any interest from potential buyers. At the moment, I do not see any signs of a market maker, but the accumulated activity between the ranges of 94,640 and 80,500 may soon prompt a large player to start buying. Currently, the price is pressed towards the range of 92,800, indicating that local sales may start down to the support level of 90,000. However, considering that sellers will keep the price below current levels, if not, it is worth considering short long positions up to the level of 95,573. For now, it is unlikely that the weekend will show any increase in activity; most likely, reactions will start to manifest from the following week. Thank you all and happy trading.