The Bitcoin price is proven again that the encryption market is unpredictable. Yesterday, 10 % jumped to 93,604 dollars. Today, 5 % lost, drowned to a decrease of $ 89100. Familiar story – great moves up, great corrections. Some merchants may have caught, but the warning signs were there.
One of them? Paulinger domains. This popular indicator, created by John Bolinger, was flashing.
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Even with the pump, Bitcoin could not withstand the middle range on the daily time frame. I was closed there, but this was not enough. Instead of pressing the top, fell the price down, which paves the way for a decline today.
As a result, another painful tour of the liquidation was struck. Billion dollars benefit positions are eliminated, a reminder that aggressive risks of encryption often come at a price. With BTC trading now below the average range, the market bias is declining. Not so much, just weakened structure.
Is the worst in the future?
If nothing changes soon, the lower Bollinger Band – to 83,400 dollars – becomes the next logical goal. This is not about panic. It is related to possibility. Bitcoin’s inability to keep main levels indicate that sellers still have the upper hand. Buying pressure exists, but it is not dominant.
Currently, the price procedure is still under pressure, and the market tends to test a deeper support.
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Of course, encryption is famous for the opposite of trends when it is less expected. Pushing the back on the middle range can reset the future look. But at the present time, Bitcoin dealers closely monitor these gangs.
