SparksterSignals never enjoys being the bearer of bad news...
However, the better you trade, it matters not which way the market goes in the short-term.
As you can see, Heiken Ashi 2-week chart reveals momentum is turning downwards.
Traders may seek to unload altcoin long positions at the risk of a significant price drop on BTCUSD.
Major support is down at $6900.
The current 2-week candle doesn't close until 6th July so plenty of time for a turnaround. We'll be watching closely.
What do you think? Can FOMO help turn momentum back up? Will support be found before $6900? Are the orders book strong enough to eat up the negative sentiment and uphold the price?
However, the better you trade, it matters not which way the market goes in the short-term.
As you can see, Heiken Ashi 2-week chart reveals momentum is turning downwards.
Traders may seek to unload altcoin long positions at the risk of a significant price drop on BTCUSD.
Major support is down at $6900.
The current 2-week candle doesn't close until 6th July so plenty of time for a turnaround. We'll be watching closely.
What do you think? Can FOMO help turn momentum back up? Will support be found before $6900? Are the orders book strong enough to eat up the negative sentiment and uphold the price?
Note
Zooming in to the 4-hour chart we can see heavy resistance with price now below cloud and tinken-san (blue) breaking below kijun-san on the cloud: 5% target is within sights.
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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.
Related publications
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.