XBTUSD (Bitmex) - sellers are ready to hit fresh June low at 5,743 USD
On Monday, the 13th of August, bitcoin trading on the Bitmex exchange closed slightly down. After the unsuccessful attempt by bears to break through 6,500 USD, the price returned to 6,134 USD. The long shadow which remained at the top of the daily candlestick was a trigger today for bulls. During the Asian session, XBTUSD fell to 5,860 USD.
A fresh monthly low has been reached. At the time of writing the review, bitcoin sits at 5,984 USD. Considering how market participants are dumping altcoins, it is worth waiting for bitcoin to hit a new low. I’m waiting for it to test at 5,500 around the 17th of August. The key support is 5,400-5,500. If it does not hold, then you can expect some panic selling. In this case, purchase orders should be placed as low as possible.
On Tuesday, sellers can set two supports: at 5,875 and 5,760. The first level is the lower border of the A-A channel, the second is the line projected from these lows: 6,100 and 5,971.Source:https://alpari.com/en/beginner/articles/forex-demo-trading/