This is a short term view of the last 30 days,the market after a strong rise to 6.80$ is moving sideways and still fighting trying to reach the 7$ barrier. I’m noticing a drop in volatility and i need it in order to break the 7.2$ january top, at this point the BTC/USD might retest the lower channel at 6.1$ giving the opportunity to the smart speculator to open a long position for a quick bounce in prices.
I’ve talk about a maximum target of 10.2$ for mid July in the previous update, at this point is impossible to reach it with this drop of volatility, i’m more for a top at 8-8.5$ this month or next one where i’ll probably close the trade i opened at 5.06$
As you can see in the chart even the net volume is dropping confirming that bitcoin is losing steam and it is going sideways but still inside the keltner channel i drew on the chart.
If 6.1$ got broken strong support for this month is the previous accumulation price zone at around 5.2$