SkyRock Signals

​​#Analysis #BTC

Price broke through the support level and the bottom line of the ascending wedge. BTC is still above $6 300, but the mentioned pattern has already begun its action and the price moves in a negative scenario.

Periodically there are bounces to local resistance, but the market is too weak and can not overcome them. Most likely, after the next impulse growth, the price will fall in the range of $6 100-6 000.

It can be noticed that it's very difficult to move up for the asset, more chances to go lower. The current area looks dangerous: breaking through the support of $6 100 will send the price to test the level of $5 798 mentioned on the graph.

To reconsider a more optimistic scenario, the asset must overcome the resistance of $6 300 again and consolidate there.