$6500-6525 area should be good for short entry

Oct 21, 2018

Greetings everybody,

Market shows very lazy price action, so it is very difficult to find some setup there. We think that BTC within few weeks will be driven by
doubts of investors. On a background of Tether, Bitfinex and Noble Bank events, lack of regulation and bit white spots in blockchain technology - investors, as new as experienced ones will try to re-assess BTC. It brings no interest, it doesn't protect from crisis events. It is an object of hackers attacks and no regulation opens the gate for dirty affairs of different kind. Is it really as attractive as it was seemed before?

Technically recent action definitely doesn't corresponds to idea of upside trend. After pullback BTC behaves too flat for bullish reversal. This makes us keep our bearish view intact. Speaking on short-term perspectives, we could get "'222" Sell pattern on Mon-Tue around major 3/8 resistance, which could become not bad area for short position taking.