Bitcoin: the Buyers are trying not to panic
XBTUSD pair is in a sideways trend seven days. Volatility increased with the arrival of the New year on the Chinese calendar, which started on 5 February and will last for 15 days until February 20.
On Tuesday, the day closed with growth above the daily trend line. At the auctions in Asia sellers have tested the boundary a 7-day consolidation, lowering the rate to $3351. 10:00 the sellers a second time came to him. Below, it met with resistance. A large volume of limit sell orders stood at $3350, less $3355. They formed a protective wall, which allows shoppers to stay inside the Asian range of $3351-3446.
The current situation for buyers is critical, as are active sellers with fluorescent TF. They want to get buyers off guard, to bring down the price of bitcoin to under $3000.
Sales began after the failed attempts of the buyers to gain a foothold above $3445 and intensified after the breakout of the trendline (L3343 – L3382). It is seen that the buyers are defending the area around минимума3343 from 29.01.19, but an avalanche of market sales of their exhausts that they have to close open long positions.
If by some miracle they get today to close the day above $3400, on the daily timeframe formed a bullish formation. Buyers, is holding a course to end the week above $3400, forced to turn the oscillators up. They will begin to razorcuts trend indicators.
By time cycles, the growth phase should begin with 7.02.19 four hours. If growth is not, then 8.02.19 seven hours. Buyers need to fight to 7.02.19, up to four hours, or very quickly to bring the rate back to $3440 and there to rest.
Analyst of information and analytical center,