a low was formed at $9,400 with expanding volumes and a lower shadow yesterday. Today, BTC starts a minor rally without breaking below the low, indicating that price receives effective support around that price, short-lived as it is, we can still draw a conclusion that momentum from bears is weakening. In terms of volumes and momentum, however, bulls keep silent, making me believe that a minor bounce seems more reasonable. After reaching to MA 5, price will keep dipping as the overall trend remains bearish.
Original by Kuang Ren, translated and posted by AICoin Jami.
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During bearish trend the best thing to do is to buy more and that is what increase the volume. I keep saying that now provides the best opportunities to buy and I seriously believe that will give us good profit in future. Bitcoin may push higher from next month and breaking $12,000 significant area is a must. We are not seeing any limitations for price future growth.