Bitcoin: Buyers Vs Sellers

Here is a good example that explains how a new candle can change the situation in the market. Yesterday we got the confirmation that the market would move lower to the nearest target at 9000.00 level. The bearish candle and indicators showed that sellers were active in the market.

But a new day could not develop the downward movement. Now we have a bullish candle which is going to be close above 10000.00 key level or close to it. If so, we will get a local reversal, and the further days will show us how buyers are strong.

The breakout above 10000.00 will give an opportunity to reach the previous swing high. The breakout below the local swing low will tell us about the falling to 9000.00 support. In spite of the bullish candle, the market still keeps the potential to move downward. Don't forget about it!



Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.