Can traders expect the bounce back of BTC soon? NickSzabo4 alistairmilne Maybemore_DC WhalePanda
At the moment, there are no bullish or bearish signals, which means that there is a high chance to see ongoing consolidation in the range of $26,500-$26,700.On the daily time frame, the rate of Bitcoin is accumulating energy for a sharp move.
However, if the fall continues to the $26,000 zone and fixes below it, there is a high probability to see a test of the support at $25,270 soon.A better situation can be seen on the weekly chart, as the price has bounced off the mirror level at the $25,300 area. If the bar closes far from it, traders can expect a local correction to the $27,000-$28,000 area.
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