Bitcoin (XBT/USD - BitMex) - Point of Control

By milionarioo | DigiNomic | 24 Apr 2020


Bitcoin ultimately failed to break through the resistance at 7600 yesterday. We fished some liquidity from above, but there was immediate suppression.
Today it will be curious to see if it will show follow-up to the movement, with volumes and breakthrough of the key price.

In this case, the last target to which I would move my Bias hunting for LONG would be 8,000.

At the moment I am still neutral, for the usual reasons: volumes still subdued, failure to recover the minimum range of the last cycle (which would be completed with the reclaim of the 7600 and, moreover, the sudden drop on the open interest in conjunction with yesterday's pump .
This raises the likelihood of a lateral phase, which is necessary for the accumulation of additional petrol to trigger another impulsive movement.

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