BTC continues to sideway movement and we are still waiting for confirmation of the rising minimum. If we want to think about the continuation of this structure and over potential day, the price must set this minimum higher than the previous one. Will it succeed in the price or will we go looking for a new bottom in the ongoing correction?
We are still watching potentially 123 bottom formation the confirmation of which occurs when the price exceeds point 2 on the surface $ 46,000. Until then, we continue sideway and possibly corrected if the price falls below this pattern. However, they still prevail bullish volumes although in the last growth they were much lower compared to the previous ones.
Source: TradingViewBTC is still in a sideway movement
That bullish volumes receding may not immediately mean they are below bearish volumes. Nevertheless, it is necessary to sharpen attention and monitor the higher minimum than in point 34,500 $. It is also possible to continue the sideway structure for another month and until the price exceeds support or resistanceto be continued.
In the long run, we are bullish and even if the price jumped out of the sideway structure, we are close to the long run. In the short term, however, we are a sideway and we cannot determine whether the price closes up or down from this pattern. Entering the market can be ideal, but at a certain risk.
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