The current situation on the market. What can be

By Danyakot | a whole day of positivity | 15 Jul 2020


On the 15-minute chart, a narrow trading range was formed with support at $9160 and the upper limit at $9300 (purple on the chart). Traders have already faced false support breakouts, which they quickly bought back (green on the chart). I am considering trading on the rebound from the $9320 and $9150 marks with small risk restrictions.

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All attempts of the bitcoin price to rise above $9360 failed. The same about the outputs from the outset has previously resulted in the formation of new lows.

The most likely medium-term scenario is a fall to $8500 and the formation of a new trading range of $8500-$9000. The conclusion is based on the price behavior from may 27 to the current moment.e488f679103f493cec50b2dc2a22fa6be239706ab7bd4448611404d68bdcbfa8.png

Although the price did not show a sharp drop from the $9460 mark, as it was in the past false exits to the top. This is different from the usual behavior of the market, so you should follow the basic rules of risk management.

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Danyakot
Danyakot

multi-faceted personality.Twitter @Danyakotov


a whole day of positivity
a whole day of positivity

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