Welcome to PipEze daily BTC report.
Friday and Saturday were very active days on crypto market. BTC broke $45000 and dropped to $43500 on Sunday. We were expecting all this, as buying pressure was huge. PipEze Price Movement Benchmark was signaling uptrend weeks ago but now we got sell signal. There are few things worth mentioning: green area is 5 points high and is not in decline; there is plenty of room for signal line to turn and continue to go up; 1H PMB chart is showing buyers shortage.
There is a possibility Bitcoin will go further up to $49000 mark but there is a chance BTC will slide down to 40000 – 41000 level.
If we look closely at daily and hourly chart, we will notice green area on 1D chart is continually expanding while on 1H chart (image below) same green area is constantly diminishing while price is rising. This is a warning signal telling us there is insufficient amount of buyers on the market to push price further up. There could be another price push to break 45K level, but if that attempt fails BTC probably will go back to 40K.
Well done everyone.
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