$BTCUSD - Falling wedge
Hi guys! 👋🏻
🔔 Bitcoin is under pressure and some analysts even predict a heartbreaking decline to $36000 and some to a terrifying $19000.
🔔 It is clear for now that Bitcoin's price will be fully dependable on the global ecnomic data especially the US economy. The reason is not only the migration of mining powers to the US but Bitcoin ETFs and Bitcoin futures which are widely available to large cap investment firms in the US. Hence track the US Dollar index and economic data on your economic calendar when trading Bitcoin and cryptocurrencies. Cryptotrading will no longer be bound to behavioural and sentiment-based investment decisions, but will solely be a fundamental and technical analysis based.
🔔 BTCUSD is currently inside a falling wedge, there should be one more leg down (correction) before Bitcoin can climb higher. Bitcoin is traded within ranges of the support zone, which is now being tested as a resistance. Hence, one more leg down is expected.
✊🏻 Good luck with your trades! ✊🏻
If you like the idea hit the 👍🏻 button, follow me for more ideas.
🔔 Bitcoin is under pressure and some analysts even predict a heartbreaking decline to $36000 and some to a terrifying $19000.
🔔 It is clear for now that Bitcoin's price will be fully dependable on the global ecnomic data especially the US economy. The reason is not only the migration of mining powers to the US but Bitcoin ETFs and Bitcoin futures which are widely available to large cap investment firms in the US. Hence track the US Dollar index and economic data on your economic calendar when trading Bitcoin and cryptocurrencies. Cryptotrading will no longer be bound to behavioural and sentiment-based investment decisions, but will solely be a fundamental and technical analysis based.
🔔 BTCUSD is currently inside a falling wedge, there should be one more leg down (correction) before Bitcoin can climb higher. Bitcoin is traded within ranges of the support zone, which is now being tested as a resistance. Hence, one more leg down is expected.
✊🏻 Good luck with your trades! ✊🏻
If you like the idea hit the 👍🏻 button, follow me for more ideas.
Nothing is true, everything is permitted.
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