Bitcoin don’t want to buy at the current rate
Sunday, 5 August, trading in bitcoins ended with a growth of 0.19%. During the day the price was around $6980. First, buyers in the European trading updated to a maximum of $7094, then the sellers hit the weekly low of $6870. Bidding ended at $7019, resulting in the formed daily candle with a long lower shadow.
In Asia, the price went up to $7075. At the time of writing bitcoin is worth $6974. Price strayed from the book (55 sma) and the trend lines back under $7000. With the trend sellers easier to win back losses than buyers. When the price falls below $6970 would threaten support for $6870. After the sellers run to capture the $6715.
Buyers can not reverse the bearish trend. Not willing to buy BTC at current prices. It is possible that the demand may appear in the trendline ($6600). Although at $6800 for me is essential. If buyers pass, pass and then $6600.