2018-6-12 06:02 |
The weak hands close their positions while the stronger hands who have sold at the highs use the opportunity to buy at lower levels.
However, traders should not be in a hurry to establish fresh positions when the markets are in a firm bear grip.
BTC/USDThe bounce in Bitcoin that started on May 29 failed to break out of the 20-day EMA.
Once price broke below the support levels, the bulls were forced to liquidate their long positions.
Once the $1.33 levels break, the next major support is at $0.9150 where we anticipate strong buying to emerge.