Not much has changed with Bitcoin price since yesterday as it stayed within a $50 range. We are in a on the short term while it’s having some difficulty breaking through the Fibonacci levels.
On the fence
Even still, this area for BTC price 00 is a no-trade zone for the most part due to the low and the lack of direction from the bulls and the bears.
Expecting somewith the week as more typically occurs during the week days than on the weekends
However, one thing we have is an inverted hammer, which is typically a very bullish reversal sign at the end of a long downtrend.
More Down or Reverse?
The key will be the next two weekly candle closings to either confirm a reversal or confirm a continuation to the downtrend.
I don’t expect us to stay in this range for very much longer.