Bitcoin may range for a while.
There is solid support at the 20,000 region. Whether it breaks through that level on either side is not imporant. What is important are the buying regions. Buying at market could be a good option as price is stagnating heavily. But downside movement is highly probbable since there a lot of conflicting ideas.
There are two range zones that price is attracted to. Above is the May10th-June9th zone which price, if it returns to that level in coming weeks/months, will either chop or, hit significant points of resistence and fall.
The situation around BTC and its contemporaries is precarious. Trading on contracts is speculative. I am personally buying the currency but I am not trading contracts.
There are two range zones that price is attracted to. Above is the May10th-June9th zone which price, if it returns to that level in coming weeks/months, will either chop or, hit significant points of resistence and fall.
The situation around BTC and its contemporaries is precarious. Trading on contracts is speculative. I am personally buying the currency but I am not trading contracts.
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.