Bitcoin Remains in Consolidation above $7,400 after a Pullback
Bitcoin is three steps higher as the bears fail to breach the low at $6,800. Interestingly, the coin has temporary respite as the market maintains its upward move. Buyers are also struggling so that the coin remains above $7,000 price level. The price movement has been unstable. Bitcoin moves up after a pullback from its low of $7, 240, and commences consolidation above $7,500.
Cryptocurrencies Head Towards Oversold Region amidst Breakdown
Crypto currencies are in a bear market as coins face selling pressure at the bottom of the chart. The other coins are in a period of consolidation to rebound. The markets are characterized by small body candlesticks like the Doji and Spinning tops which described the indecision between buyers and sellers. The coins may face breakdown or breakout as it consolidates at the oversold region.