BTCUSD moving in flat 6000-6700 area already one week. I saw a small yellow up trend channel but this channel is just figure of trend continu. We have resistance level at 6850 and next 7170. And if we test the upper level of resistance, we will form an rising wedge - also reversal pattern and figure of trend continue. Most altcoins from the top-100 show a negative, but not very significant dynamics. The amplitude of market capitalization movement the last few days is small, there are no significant movements. Market Cap: $208 816 106 901 . The BTC dominance index is 53%.
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Long position Buy zone 6200-6340 Stop loss 5900 Targets 6590-6610-6786-6820
Trade stängt: målet nått
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Long position is reached
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Bitcoin touched the intersection of the resistance lines of yellow and blue
Definitely agree with your macro descending picture:
Here's my take:
In today's Bitcoin analysis I discuss the artificial price move from yesterday, the ETF's at play, Bitmex's shady move, and where I see price going potentially if supports hold: