Bitcoins tries to grow, but cryptocurrency does not need investors
Sunday, November 25, on the stock exchange Bitfinex bitcoin exchange rate dropped to $3657. No news for the collapse of the prices were not. Worked the technical factor due to the activity of sellers.
Daily candle closed with a pin bar with a bullish body. Candle with a long tail is a reversal. I want to warn you that about 80% of the pin bar stop market and only 65% of them call out the correction against the trend. Not all reversal candlestick patterns work.
The bounce up was 15.7%. The percentage movement was decent, and if you look at the hourly chart bitcoin/dollar, then the price is in the correction from the bottom line of the MA channel returned to its book line. A normal pullback within its volatility. Bitcoin is trying to raise his head to look at the moon.
Balance sheet line (sma 55), not the first time acts as a strong resistance trend. Resting at the trend line, the buyers retreated to $6971 (38.2 per cent). I note that the time TF was formed trenbolona correction in the form of three. Since trend is bearish, and buyers are still very weak, sellers are able for 2-3 hours to lower the exchange rate of bitcoin to $3657.
To continue the rally towards $4445 for bitcoin, buyers need to protect the level of $3880. If the sellers will be $3820, refrain from new purchases of bitcoin and alts. If the activity of sellers will remain low, and demand while reducing will increase, then you can consider a long position. And then, opening it, you need to be ready to run away from the market at any time.