Bitcoin markets still seem to be under pressure from the downturn affecting bitcoin markets since a few days ago. BTC/USD rates continued declining, even reaching below $1000 levels, down to $940. Back to back sell orders are still holding strong in spite of trading volumes having gone slightly down since the peak reached in preceding trading sessions.
Major Signals
- BTC/USD rates are under a volatile siege after the continuation to the market’s bearish mood breached support
- A return above $1000 levels was attempted but lost the battle with resistance eventually
- The markets sentiment doesn’t seem to be improving much as a recovery to pre-crash levels seems more unlikely through time
All in all, the markets sentiment might not be that positive but it sure is indicative of how some traders were ready to support prices from dropping further, with even futures markets finding a more significant crash at this point unlikely in spite of their preceding bearish mood.