Welcome to PipEze daily BTC report.
BTC price momentum has gone. Doji candlestick which showed on a chart yesterday is a sign of diminishing buying power much needed to push price of Bitcoin up. In the last few days, we have seen the influx of buyers, but short sellers and profit takers were waiting at $40000 level to stop that price rally and start pushing BTC down. This morning we have seen first red candle for the last 9 days. Now, over the weekend, we could see some local price drop, but nothing that we would worry about.
PipEze Price Movement Benchmark is showing exactly same situation as price chart above. Buyers lost control and became weak. PMB has grown 2 points from 5 to 7 in one day. 2 points it’s a big jump but price stood in place. I’m afraid holders will have to wait a bit longer, before we see 45K or 49K but this time is coming. Looks like we were right yesterday that we will see local price decline in the coming days.
Well done everyone.
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