The new week is starting and as we know market changing every day, every week and every month. To get a picture of how the market moving as a trader or investor you have to conduct technical analysis, fundamental analysis and then you combine both of them to get a clear picture.
Today let’s take a look at the bitcoin market in a technical way on how it is moving in a daily time frame;

The above screenshot is the bitcoin daily timeframe, as you see bitcoin market before was moved in an uptrend then break an uptrend.

Now price is facing a challenge of break that Demand zone, as we know this zone buyers mostly use it for placing their limits orders. Even though price succeeds to break the uptrend line, it does not matter that market already changed its direction.

But if it will break that demand zone, the price has a high probability to fall more. But price retest and then move up it means that price respect a demand zone and buyers a still strong enough to continue to move the market higher.

And when you get a chance to look at the bitcoin market in the monthly and weekly timeframe you will see how bitcoin is still strong in bullish, this means that what you have to do is to keep looking and take every buying opportunity that may happen on the market.

 Final thoughts.

For my advice but base on the technical way to those who are short-term bitcoin investors, if you want to buy you have to wait for that daily downtrend to be break or placing your buying limits orders a few points above the 6000 because this is the area which does not have any obstacles. If you wish to sell what you have to do is to be patient until the price break that demand zone and price close below the zone. Do not forget to add fundamental analysis to get more confluence before pulling the trigger.

Any investment requires skill and experience to keep learning and practice every day. Risk what you can afford to lose.