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As expected, this week has been a busy one. There were a lot of news events, and due to this, we saw increased volatility in places.
On the charts, I previously highlighted with gray lines local supports where the price is actually striving now.
Local support range from where the price can bounce $16,700-16,150 (gray lines on the chart)
At the moment, the asset is near strong local support (gray rectangle $16,700) and there is a possibility that at the opening of next week we can already expect a rebound to the $17,000-17,500 zone
For now, I adhere to the fact that at the opening of the week we will see below $16,700 if you are looking for a rebound, then work better with a grid of orders of $16,700-16,1500, an approximate range.
Just remember that the chart goes from liquidity to liquidity, and while at all news events we were in the $18,000 zone and the price was actively pushed up, thus creating a trap for the bulls, a lot of liquidity has also accumulated below and the market maker is following this liquidity in small steps.
In general, my idea is that most likely we will see a slight local rebound and after that the pressure in the $16,000-15,500 zone will continue.
As expected, this week has been a busy one. There were a lot of news events, and due to this, we saw increased volatility in places.
On the charts, I previously highlighted with gray lines local supports where the price is actually striving now.
Local support range from where the price can bounce $16,700-16,150 (gray lines on the chart)
At the moment, the asset is near strong local support (gray rectangle $16,700) and there is a possibility that at the opening of next week we can already expect a rebound to the $17,000-17,500 zone
For now, I adhere to the fact that at the opening of the week we will see below $16,700 if you are looking for a rebound, then work better with a grid of orders of $16,700-16,1500, an approximate range.
Just remember that the chart goes from liquidity to liquidity, and while at all news events we were in the $18,000 zone and the price was actively pushed up, thus creating a trap for the bulls, a lot of liquidity has also accumulated below and the market maker is following this liquidity in small steps.
In general, my idea is that most likely we will see a slight local rebound and after that the pressure in the $16,000-15,500 zone will continue.
