During the day, Bitcoin $BTC slowly climbed higher, and after finally gaining a little over 1%, it gave it all back as soon as the U.S. stock market opened at night. It rose back up as smoothly as if it were drawing a door, then fell right back down just as smoothly.
On the 15-minute chart, the current price was dumped to 85209, and in one sharp drop it hit a low of 85130, wiping out all of the daytime gains. The moving averages are all pressing down overhead, and MACD bearish volume is still expanding, so the short-term picture is indeed ugly.
However, the rhythm brought by the U.S. stock market open is often just a liquidity sweep. This level is exactly the support area where the daytime rally began. If it can stop here, there is still room to play; if 85200 fails to hold, it will most likely test 84500.$BTC #BTC
On the 15-minute chart, the current price was dumped to 85209, and in one sharp drop it hit a low of 85130, wiping out all of the daytime gains. The moving averages are all pressing down overhead, and MACD bearish volume is still expanding, so the short-term picture is indeed ugly.
However, the rhythm brought by the U.S. stock market open is often just a liquidity sweep. This level is exactly the support area where the daytime rally began. If it can stop here, there is still room to play; if 85200 fails to hold, it will most likely test 84500.$BTC #BTC