Bitcoin exchange rate closed trading Monday with the collapse of the 3.5%
Monday, July 30, on bitcoin trades closed in the red. Market activity was observed in the Asian and American sessions. Session patterns are very similar, but different amplitude. In Asia, the scale of the show was in the range of $205 in the States – $377. In both cases, the buyers covered the price drop, but with the continuation of the rally they had problems.
The sellers opened the hunt for feet buyers in 18:00 UTC. I believe that the confidence they gave selling altcoins. Below $8075 worked protective of the foot. “Licking” stops together with market sell orders causing a movement of 3.5%, to $7842.
Cryptozoo, at 20:00 UTC is over. After all, the market activity lasts either three minutes or three hours or three days. Yesterday it lasted in the us session, three hours. Buyers have completely blocked the fall, raising the exchange rate of bitcoin to $8219 for bitcoin.
During the collapse of the trading volume amounted to $600 million, including the purchase XBT spent $214 million on sales of $385 million For the reversal candle (21:00 UTC) volume reached $540,5 million, including the purchase, spent $263 million on sales of $277 million
The price of bitcoin bounced off the $7842. Bullish candle, the volume was $604 million, including the purchase spent $345,7 million, on sales of $258,7 million Buyers have become active, because the level at $7848 is 50% of the rise from $7209 to $8487. If they are unable to defend it, then escape from the market would cause a new wave of sales of BTC. Bidding ended at $8158.
After sharp movements in the market konsolidiruyutsya 15-25 hours. If the price remains in the range, then the consolidation is delayed up to 42-45 hours.
On the daily time frame the daily candle closed with a “hammer”. He is a harbinger of growth to $8600 for bitcoin. Here only it is necessary to make a reservation. The Bitcoin exchange rate needs to exceed the level of $8300 to 21:00 UTC. Took 20 hours from the candle with a maximum of $8219. If you can not gain a foothold above $8300 at the specified time, then we should expect another collapse of the value of BTC. Only this time it can not go over $8 thousand