Hello, Traders!
BTC price continues to clamp in a narrow liquidity range of $31000 - $39800
The sellers were the first to enter the market and repeatedly tried to push the price below the level of $31000, but the buyers were able to stop the sellers and responded sharply with the price going beyond the local resistance at $37650.
BTC withdrawal continues at major exchanges. The growth of USDT and USDC stablecoins emission also continues.
Negative news does not influence price movement so much. Consequently, we can assume that those, who wanted to sell, did it already.
In the current situation, it is best to take less risk and engage only after the price goes above the level of $39800 using a shortstop.
Good luck and watch out for the market
P.S. This analysis is created for educational purposes and shall not be considered a piece of financial advice
BTC price continues to clamp in a narrow liquidity range of $31000 - $39800
The sellers were the first to enter the market and repeatedly tried to push the price below the level of $31000, but the buyers were able to stop the sellers and responded sharply with the price going beyond the local resistance at $37650.
BTC withdrawal continues at major exchanges. The growth of USDT and USDC stablecoins emission also continues.
Negative news does not influence price movement so much. Consequently, we can assume that those, who wanted to sell, did it already.
In the current situation, it is best to take less risk and engage only after the price goes above the level of $39800 using a shortstop.
Good luck and watch out for the market
P.S. This analysis is created for educational purposes and shall not be considered a piece of financial advice
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.