Bitcoin BTC Weekly Candlestick Analysis

11 ביולי 2022

Hi Traders, Investors and Speculators 📉📈

Ev here. Been trading crypto since 2017 and later got into stocks. I have 3 board exams on financial markets and studied economics from a top tier university for a year.

Let's take a quick look at Bitcoin - from a chart analysis , we see multiple confirmations of price weakness. This basically implies : There is not enough buying pressure / demand within the current zones that we are trading OR there is too much selling pressure / supply in the current zones . This furthermore would imply that either demand needs to pick up or the price will fall lower to find sufficient demand.

In other cryptocurrency markets :

⁕ Ethereum ETH loses $1150 as it follows BTC down
⁕ ADAUSDT loses gains
⁕ DOGEUSDT looks bearish
⁕ SHIBUSDT loses 5% over the weekend

I expect this week to be a red week across the markets. Short term corrective buying pressure has mostly run out (dead cat bounces).

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