Hello guys,
I pay attention to the price of BTC considering it's on the lower limit of the congestion:
the support is in $8800/$8750 area. If this support would be broken, prices could go to $8300 as first step
and $7900 second step.
Indicators, as you can see in the chart, confirm weakness of prices.
***This analysis is not a buy or sell advice, it is drawn up for educational purpose only***
I pay attention to the price of BTC considering it's on the lower limit of the congestion:
the support is in $8800/$8750 area. If this support would be broken, prices could go to $8300 as first step
and $7900 second step.
Indicators, as you can see in the chart, confirm weakness of prices.
***This analysis is not a buy or sell advice, it is drawn up for educational purpose only***
Trade closed: target reached
As forecasted BTCUSD, during the night, reached the second target in $7900 area.At the moment BTC seems to not have enough strength to rebound from this area: this weakness is underlined by indicators, expecially stochastic.
If this area would be broken, prices could slip to $7500 area before and $7200 after with possible extention to $6900.
The chart doesn't suggest us any other safe trade on this cross, at the moment.
We have to wait and see for another good trade.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.