Fundamentals can play a big part in these crypto markets, and sometimes I believe the participants of the market become extremist. On my chart, I have highlighted a relevant area in the last three days where you can see an overreaction to the pullback. It is now clear, the candle seen today is highlighting that the market is still consolidating. With Price bouncing between $10000 and $13000, you will need to look at the higher time frames to ensure you can be .
While this market does not look negative, I need to see price break strongly through $11700. This will give me an indication that buyers are ready to pay more than the price defined at the end of June.
Conclusion: If you are looking to buy in the short term, then now is the time. Prices below $11000 are a bargain. In one of my older posts, I explained that if we every dropped below $10000 this would be an opportunity of a lifetime. The overreaction in the last few days brought that opportunity to life, and if we can break $11700 I think the future looks bright for BTC . Still, remember this is a consolidation phase, so the market is still not transparent in its direction.
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“Patience is the key to any market” – Nathaniel.
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Nathaniel – “The value Trader”
Little Big Movement / IONIC Capital