Bitcoin is currently in a convergence setup with a strong support at level 58500. Note that the market sentiment is not much positive. The green and red grap (the second graph strep) is the bittrex short and long position orders, note that the short ordres have resen in the past days. If a price increase happens, the short orders have to by to cover, this might kik the price a bit higher with a high speed. Whait till price hits the strong support level, since the market sentiment is low their is a possibility that the price might cut through the resistance level without any slowing down. If the price start to climb give it a bit space to go up rather than placing orders on the resistance line.
Komentar:
resistance level is 5850 not 58500. sorry for the error.