Company does not offer investment advice and the analysis performed does not guarantee results.The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
Black line -resistance
For a 3rd day Bitcoin price has made no real progress. After the sharp sell off from $24,000 to $20,800 Bitcoin has paused the decline and price is moving sideways. Bottoms are not formed in this way and that is why I give very little chances that we have seen the low in Bitcoin price. Bitcoin remains vulnerable to new lows below $17,600 as long as price is below the major resistance trend line. Bitcoin remains in a sideways price action with a slight positive slope. Bitcoin buyers will get another chance to buy Bitcoin at lower levels. This remains our key scenario.