BTCUSD - No breakout yet, upside remains limited
BTC is still trading in the orange dotted channel, but came back from 6960. There is no breakout yet, red arrows mark important levels. No volume yet in the recent 150 points decline, BTC needs to break 6750 first with volume to go for the larger resistance area of 6500, a break here would trigger a lot of stop losses of long positions.
There is currently some hope in the market that altcoins would have found its bottom and with the emotional driver that EOS doubled within 24h because of an airdrop. In my opinion, some altcoin looks more like forming a cliff with the danger of falling hard off.
There is currently some hope in the market that altcoins would have found its bottom and with the emotional driver that EOS doubled within 24h because of an airdrop. In my opinion, some altcoin looks more like forming a cliff with the danger of falling hard off.
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