Hello everyone, this is a daily review from Liam Webb from CryptoTradingSchoolOnline specially for Neironix.
Bitcoin has fallen again today, breaking through the buy area that caused yesterday's small rise and falling into the area below. This area has a high chance of causing a reversal owing to the fact it also sits on a point where the whales placed big positions, so we may see a large rise begin from this area later on tonight.
At the time of this writing, the bitcoin course was equal to $9 612 and the market capitalization was $170 billion.
No concrete reversal signs have appeared yet, however, a very large bullish engulfing pattern did form a few hours ago, which could signal the beginning of the reversal. I think any rise we do see is likely to be capped by the sell area that formed as a result of last nights decline, due to it being found at a major support level and $11,000 - a big psychological number.
For now, watch to see if price continues to rise from this engulfing pattern or falls back into the area. If it continues to rise, expect a decline somewhere inside the sell area. If it falls back into the buy area, watch for signs of a reversal i.e big green candlesticks.