FX.co ★ teagan.orn | #Bitcoin chart analysis

Hello traders! For the 5th day in a row, Bitcoin quotes have been "hanging out" on the daily chart within the familiar price range of 65,000 to 70,000. It seems that we can start talking about the development of a descending trend as part of the same wave "c" of a potential southern zigzag "abc" when the asset quotes show a solidification below the 65,000 level. Until then, the priority remains the continuation of its essentially flat correction. It appears that the above-mentioned price range fully reflects the balance of interests between buyers and sellers of the asset. However, sooner or later, this balance will be disrupted. In any case, the current technical situation is entirely in favor of sellers who may consciously maintain the existing price range until a certain moment known only to them. In the current situation, the formation of lower or upper fractals does not play a significant role.