Bitcoin on the verge of falling to $4500

23 May 2018

At $8400, we see a classic bull trap, when, after the breakdown of the resistance line, the price trades on falling volumes and then returns back to weak volumes. After that we see a sharp plum, the volumes rise because all the fines are losses. Now the price can still bounce back to $8000-8100 after which the fall will continue because the main resistance zone of $8000-8500 we have already overcome and new buyers should be searched in the region of $7000-7200 if it can not be kept flying to the region of $4500.