Last 2 balances goes down.
The price is in a empty (vacuum) zone, which means that historically there are no supports that could deploy the price. The only thing that can reverse the price in a vacuum zone is the formation of a wide balance with a huge volumes, which is goes in the opposite direction. So far, this is not happening.
For now the price is being formed a small balance with the range 8000-8250.
With a high probability the price will go further down to 7650 or even 7500. But before that they can make an up-trust (big tail) above 8250 to shake out the sellers form the market and hook buyers who have breakout orders.
While the price remains below 8500 - the bear pressure remains.
The price is in a empty (vacuum) zone, which means that historically there are no supports that could deploy the price. The only thing that can reverse the price in a vacuum zone is the formation of a wide balance with a huge volumes, which is goes in the opposite direction. So far, this is not happening.
For now the price is being formed a small balance with the range 8000-8250.
With a high probability the price will go further down to 7650 or even 7500. But before that they can make an up-trust (big tail) above 8250 to shake out the sellers form the market and hook buyers who have breakout orders.
While the price remains below 8500 - the bear pressure remains.