Activity has been pretty uneventful. There's been some small movements, but right now it's just a tightening range pattern and consolidation like what we're expecting. This is most likely going to take us through the weekend before we see any action. Consolidation periods have been about a week long before pullbacks, so it seems probable this will happen again.
Short term support has been found near the $3,380 level with resistances looking to be at $3,460.
Bear volume is still dwarfing bull volume, so there's nothing compelling to bring a change to market sentiment. Bears are still very much in control of this market space.
Hope everyone has a great weekend!
Thanks for posting todays update
thanks so much!
Nice analysis! I just read an article as well that this is the longest bear market in the history of bitcoin. 411 days...
Thanks! I'm pretty sure that article is wrong though. Prices peaked beginning of December 2013 and hit a low middle August 2015. So, that's like 21 months. Good news is it was all up and up from there. Haha. So, if patterns play out the same, we're still pulling back until August ;)
Thanks for the post.