YMI

BTC Analysis

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BITMEX:XBTUSD.P   Bitcoin
After consolidating below the $6600 level and hitting the upper resistance region once again with a failure to closure above prior candles, I believe there is a possibility of further downside from here. We are in a solid range the past few days however market contraction leads to market expansion... and it doesnt take a genie to tell you a larger move will be made in the near future. Im not sure if we will see that larger move this current session or not. I have a more bearish bias as we failed to trade higher out of the upper range and I believe yesterdays bounce was a liquidity move/stop hunt. Below are the possible levels I will target however all eyes are on the $6400 Psychological level first.

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