Over the weekend, #Bitcoin was in a sideways range of $59,400 - $60,400, between buyer limit support and seller limit resistance.
#Trading volumes were small, so it was difficult for the price to go beyond this corridor. At night, at the opening of the Asian stock market trading session, sellers with large market orders, breaking through buyer limit support, were able to reduce the price to $58,100. At this price decrease, buyers did not remove their limits, so this decrease was not easy for sellers. At the level of $58,000, buyer limit support increased sharply, so sellers were unable to reduce the price lower.
This indicates that buyers believe in Bitcoin growth.
The #AltcoinBoom! market also declined following Bitcoin. Dominance increased to 58%. Therefore, most altcoins obediently followed #BTC .
AT THE MOMENT, buyers were able to protect the level of $58,000 with limit support and even raise the price to $59,150 with market orders. Sellers are not very active in the market after the price decline. Now the limit resistance starts from $59,000, large - from $60,000. Buyers have set a small limit support at $58,300, large starts from $58,000. If buyers now join in with large market orders, they will be able to raise the price to at least $60,000. If not, sellers will not wait long and will most likely check how ready buyers are to protect the level of $58,000.
If you enter into transactions, be sure to set stop losses.
Good trading to all.
