Bitcoin has been quite bearish today after breaking above $8,500 recently. The bullish bias was quite strong after the G20 Meeting where the crypto trading is stated as not harmful for the financial world. The market is still lacking liquidity as there have not been many participants, which led to slower momentum. Bitcoin is currently being speculated as the waiting game unlike its previous nature where the cryptocurrency moved over $2,000 every day. As of the current scenario, the price is expected to break below $8,500 and proceed much lower as of the current price action structure. A daily close below $8,500 will lead to further impulsive bearish pressure with the target towards the $5,500 price area. Currently, the bias is mixed and indecisive for which a daily close is a must for further directional decision to be made.
