BTC declines to the trend source at $52 000–53 000

‘After the false breakout, the buyers’ volume was locked up, and now the BTC decline has begun. Generally, I expect, apparently, the continuation of the asset distribution to the trend sources in the area $52 000–53 000. This is the range where the last growth was formed before the start of the current decline,’ the expert notes.

Altcoins

‘So far, all this looks like large accumulations and the continuation of the flat formation. For BTC, this is the range $30 000–65 000, for ETH — $3 300–4 700, for LTC — $155–300. We should expect the distribution to continue this week. Don’t forget the number of market participants sufficient for the formation of a reversal trend and the new accumulation formation hasn’t been stopped yet. Therefore, we should expect the local decline to continue,’ the expert summarizes.

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