Crypto Market Outlook, 19th July
BTCUSD closed down -7.24% and ETHUSD -11.59% last week. Both pairs approaching long-term swing lows established a month ago. If they break, if could be the confirmation that crypto is in a bear market.
This pair opened the week by blowing through $31k Bids, the next big level being $30k. The swing low printed from one month ago is at $29k, which if breaks could lead to a very large fall.
Offers above light to nonexistent in comparison.
Similar order flow here. Large sellers looking like they are about to take 1800 Bids. Next big level at 1750.
Offers light at 1900, 1950.