Crypto Daily – (BTC) has just suffered bearish weekly and monthly candle closes that make it hard to be optimistic for the month of September. Will Bitcoin now lead the crypto market down to much lower levels?
Monday manipulation?
With a bank holiday in the U.S., and Bitcoin thinly traded and lacking real volume, Monday could be a day where the $BTC price is manipulated quite heavily. Which direction this could take will be up to those doing the manipulating – if this takes place of course.
$BTC falls out of its channel
Starting on the short time frame, it can be seen that the $BTC price has fallen out of the upward sloping channel, and has confirmed the breakdown before heading lower. A measured move for the breakdown is at $52,800.
Real danger on the weekly time frame
However, it’s on the weekly time frame where one can see the real danger for the $BTC price. An enveloping candle on the weekly is no light matter. This is where a weekly…
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