BTCUSD - 1D Chart Analysis
As we have mentioned on the previous post, the price of Bitcoin seems to delay it's so much expected recovery as long as the trading volumes are still showing the investor's skepticism in regards with this sector.
Like in January, the beginning of the month was promising, with the price having a growth of 2.22% in the first 2 days but the optimists have been quickly disappointed because the ground was lost in the following days.
The current period, in which the market seems to be "stopped" and where the daily average movements are getting smaller every day, has been announced by the technical indicators since the middle of January and there is no sign for any change yet.
Some of us might say that the market is going through a period in which is still "searching for a new bottom" or we might be tempted to say that we already got used to the market's indecision after an "impulse" like the one on the 10th of January.
But in both cases, if the trading volumes will remain low, there is a big probability to see the price reaching the Support Level of 3231$ in the following days.
Like in January, the beginning of the month was promising, with the price having a growth of 2.22% in the first 2 days but the optimists have been quickly disappointed because the ground was lost in the following days.
The current period, in which the market seems to be "stopped" and where the daily average movements are getting smaller every day, has been announced by the technical indicators since the middle of January and there is no sign for any change yet.
Some of us might say that the market is going through a period in which is still "searching for a new bottom" or we might be tempted to say that we already got used to the market's indecision after an "impulse" like the one on the 10th of January.
But in both cases, if the trading volumes will remain low, there is a big probability to see the price reaching the Support Level of 3231$ in the following days.
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