IMPORTANT DISCLAIMER

BTC/USD 15.06.2017

BTC/USD Chart

Recently, the BTC/USD pair has greatly increased its volatility. This remains true not only for Bitcoin, as such a tendency can be observed throughout the market of cryptocurrencies. There are no vivid factors that have impacted such movements. Therefore, we can only assume that it is due to yet another correction and profit taking of the major market players.

At the moment, the situation remains uncertain.

What’s happening on the market:

  • The market is still growing, acquiring the nature of bull markets.
  • Volatility.
  • Clear levels are yet to be formed, while previous support and resistance zones due to volatility are no longer relevant at the moment.

What to pay attention to:

  • Short positions are not considered since the market is still growing.
  • The estimated support level of $2,500 was passed fairly easily. Assuming this is a factor of high volatility, it’s possible to expect the price to return back to its original position. As a result, a long $2,550 potentially looks good.
  • The price has dropped below $2,250. This signals strongly to bears. But due to the overall structure of the market, short positions do not look very promising.
  • Formation of levels. With any correction, support levels are always formed. At the moment, the situation is ambiguous. It could only be guessed where the price unfolds. Stay tuned to the market, especially to the $2,500 and $2,250 zones.

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