BTC / USD Price Analysis for now

Bitcoin fell because of a break below the trend line so that it attracted sharp sales, plunging prices to lows. When prices break below $ 5,300, we recommend placing a stop loss at $ 5,400. At present, the bulls are trying to push prices back above $ 5,600 but every small withdrawal is meeting a new wave of sales.

If bears maintain prices below $ 5,300, the next decline will bring the BTC / USD pair to $ 5,150 and below it to $ 5,000. Conversely, if the bulls make a successful pullback, the digital currency might try to rise above the trend line once again.

Sometimes, the first step of consolidation is to come out fake. Therefore, the next few days are very important for digital currencies because they will dictate the next direction.

If the bear exploits the solution and lowers the price lower, it is best to sit until the decline ends. However, if bears fail to use it, it shows strong demand at lower levels. Therefore, we recommend that traders wait for the next few days, because it will give us better clues about the next direction.