Bitcoin’s (BTC) وقد ارتدت فوق $8,500, but the rally is not backed by decent trading volumes, وتشير الرسوم البيانية الفنية.
The cryptocurrency closed below key technical levels on Thursday, signaling a bearish breakdown, but the ensuing sell-off unexpectedly ran out of steam at $7,925 on Friday. ثم, over the weekend, bitcoin gained more than $500, rising back above resistance at the 50-day moving average.
وفي وقت كتابة الخبر, BTC is changing hands at $8,530, having clocked a six-day high of $8,644 earlier today.
While last week’s bearish trend seems to have run out of steam (as seen in the charts below), the weekend’s low-volume rally risks trapping the bulls on the wrong side of the market.
4-الرسم البياني للساعة
ال inverse head-and-shoulders breakout indicates short-term bullish trend reversal – أي بمعنى. the pullback from the high of $9,990 has ended and the breakout has opened the doors to $9,000 (target as per the measured height method.
الرسم البياني اليومي
The daily chart shows yesterday’s candle closed (وفقا UTC) above Saturday’s doji candle high of $8,468, signaling a bullish reversal. بالإضافة إلى ذلك, the 5-day and 10-day moving averages have shed bearish bias (are no longer sloping downwards).
As a result, the probability that bitcoin will rally to $9,000 this week is high. ومع ذلك, the bullish case significantly weakens if we take into account the figures for trading volume.
Volume is an important indicator, as it shows the level of interest in bitcoin. A rally backed by high volumes means greater reliance can be placed on the bullish move. Conversely, a low volume rally trends to end up being a bull trap.
In BTC’s case, currently, trading volume on Bitfinex continues to decline and more importantly remained low alongside positive price action, as seen in the chart above. بالإضافة إلى ذلك, trading volume across all exchanges fell below $5 billion over the weekend – the lowest level since April 11, بالنسبة الى CoinMarketCap.
Thus, the sustainability of the rally seen over the weekend is under question.
- BTC rally lacks substance (low volumes), hence the outlook is likely neutral, despite the inverse head-and-shoulders breakout (4-الرسم البياني للساعة) and the bullish doji reversal (daily chart).
- A failure to hold above $8,475 (inverse head-and-shoulders neckline) would revive the bearish view and allow a drop to Friday’s low of $7,925.
- On the higher side, only a high volume move above the 100-day moving average, currently seen at $8,857, would open the doors to $10,000.
Running up steps صورة عبر شترستوك
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