BTC UPDATE - NOT EXCITING BUT STILL OK
Hello, we had a rejection after the 4th attempt to break 12k level. As of now, all is still fine, not exiting for sure, but fine.
Indeed, at this level we have a bunch of supports, namely
- the lower ascending channel
- the red trendline that is working since May as support
Also, we can consider this as a retest of
- the 10k level
- the retracement area from
If this level holds, BTC will resume its growth.
There are not many buyers around, but I think it is due to the fact that many people are still waiting for the HUGE retracement they have been calling for months and they expect btc below 9k, maybe 8k.
BTC dominance still below 60 and in downward trend seems to certify that the overall sentiment is good.
If this has been the heavy retracement we have been waiting since March, I can say that has been smoother than expected.
I personally increased my positions in BTC in these days.
Indeed, at this level we have a bunch of supports, namely
- the lower ascending channel
- the red trendline that is working since May as support
Also, we can consider this as a retest of
- the 10k level
- the retracement area from
If this level holds, BTC will resume its growth.
There are not many buyers around, but I think it is due to the fact that many people are still waiting for the HUGE retracement they have been calling for months and they expect btc below 9k, maybe 8k.
BTC dominance still below 60 and in downward trend seems to certify that the overall sentiment is good.
If this has been the heavy retracement we have been waiting since March, I can say that has been smoother than expected.
I personally increased my positions in BTC in these days.
Are you a good trader but you lack the capital?
Or simply you don't want to risk it?
Trade forex, oil, crypto, indices, and keep 80% of the profits you make, while losses are covered!
Check it out now → ftmo.com/en/?affiliates=2427
Or simply you don't want to risk it?
Trade forex, oil, crypto, indices, and keep 80% of the profits you make, while losses are covered!
Check it out now → ftmo.com/en/?affiliates=2427
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.