Short term direction: LONG
Reasons:
The price made a big bearish move yesterday. Bitcoin lost about 500$ in value in a single day of trading. The price movement is also in the bearish direction from the 10th of July. Now it has made a sideways corrective move after the bearish impulsive one from yesterday. The correction formed at a significant line of support. We believe that there may be another bullish bounce coming before the price makes a breakout in the bearish direction and goes further down. On the short term, we believe that the price should make another bullish move.
We wish you good luck with your trading!
Reasons:
The price made a big bearish move yesterday. Bitcoin lost about 500$ in value in a single day of trading. The price movement is also in the bearish direction from the 10th of July. Now it has made a sideways corrective move after the bearish impulsive one from yesterday. The correction formed at a significant line of support. We believe that there may be another bullish bounce coming before the price makes a breakout in the bearish direction and goes further down. On the short term, we believe that the price should make another bullish move.
We wish you good luck with your trading!
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.
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.