BTC will continue dipping as rally lacks the support from volumes
Price still receives pressure from MA 5 on daily chart, though weve seen a minor rally on March 28, as mentioned in my previous analysis, BTC is expected to continue dipping as rally lacks the support from volumes.
The story repeats today, even if price has moved to the former strong support, bulls still show no intention for a counterattack, now its only a matter of time before price continues moving downwards.
Struggling around support seems to be meaningless as such pattern can be basically interpreted as a normal bounce. Overall, there isnt much room for us to operate.
The market wont recognize the price until bulls counterattack, light positions are still recommended. Besides, other major coins are correlated to BTC in price action.
Original by Kuang Ren, translated by AICoin Jami.
Full version: https://www.aicoin.net.cn/article/19176.html
The story repeats today, even if price has moved to the former strong support, bulls still show no intention for a counterattack, now its only a matter of time before price continues moving downwards.
Struggling around support seems to be meaningless as such pattern can be basically interpreted as a normal bounce. Overall, there isnt much room for us to operate.
The market wont recognize the price until bulls counterattack, light positions are still recommended. Besides, other major coins are correlated to BTC in price action.
Original by Kuang Ren, translated by AICoin Jami.
Full version: https://www.aicoin.net.cn/article/19176.html