After Friday’s price plunge, bitcoin traded a bit higher as expected to regain a little bit of lost ground. Market sentiment is still generally bearish as price smashed through the support zone which has now turned resistance. Price should reach for 20.7k again in the short term and I’ll be hunting for bearish set ups on the lower time frames.

Is heavily bearish as the trend shows, price is already rejecting from the resistance zone and a free fall to $1250 is looking very likely as it is the next support zone. This should be the framework for your bearish bias.

Reacted nicely at the $275 support zone after the heavy downturn and price has rallied by about 10% after the rejection. We’re still bearish though as price is trading at a minor resistance zone which should send it down to about $290-$280. From there we might another relief rally to the $310 zone again.

Isn’t looking good for the bulls at all. Price has dumped heavily, smashing through a good number of support zones. And still looking to reach out for lower prices. Do not engage aggressively because we may see a bullish relief move soon to the resistance zone above price. But the overall market sentiment here is bearish.

Price is beginning to rally after finding support and I want to see it trade to the $0.84-$0.85 resistance zone before dumping again.

It’s a new week and the previous week ended a bearish close after priced had begun to see some bullish momentum. This week is looking to be a bearish week as it stands so approach the market carefully and stick to our blog as we’ll bring you the possible directions for an intra day bias.

Also let us know in the comment section below which coins you want to be analyzed for you this week and it will be done.

I wish you good luck and good trading.

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