Chart provided by TradingView, captured on Huobi
Well, we have been trading in the $8000 area for a while, then yesterday, a break down happened, leading to the $7500 area. However, as I followed yesterday quite close, I saw a lot of buy orders in the $7500 - $7600 area, but most of them were hidden orders, means that some people were watching the market without setting a public book order.
Based on the analysis of the 4H timeframe, I might suggest a likely recover to the $7800 area, which is in the Ichimoku Cloud. However, there still be chances that the BTC cannot reach that cloud and we might head lower point.
For now, I would wait for the $7800 area to make a Short order, waiting to 7450 or maybe lower to close. If you want to buy BTC, I think it's not a good time now.
Disclaimer: Please treat this article as information only, I do not provide financial advice and please trade with your consent.
