RidetheMacro| BTCUSD Market commentary 2020.09.24 📉
🔺 Bitcoin has fallen to a fresh weekly trading low, following another day of heavy technical selling in the S&P 500 and other US equity markets. Technical selling was also a factor in the recent decline, following a breakout below a symmetrical triangle pattern. BTCUSD bulls now need to defend the $10,300 level to encourage a rally back towards the $10,500 resistance area.
📌 The BTCUSD pair is only bullish while trading above the $10,500 level, key resistance is found at the $11,100 and the $11,400 levels.
If the BTCUSD pair trades below the $10,500 level, sellers may test the $10,200 and $9,500 levels.
⚠ Concerning the USD, the Chair of the Federal Reserve and the Treasury Secretary will be testifying before Congress at 3pm London time.
Until the Next Time.🤗
Ride the Macro
📌 The BTCUSD pair is only bullish while trading above the $10,500 level, key resistance is found at the $11,100 and the $11,400 levels.
If the BTCUSD pair trades below the $10,500 level, sellers may test the $10,200 and $9,500 levels.
⚠ Concerning the USD, the Chair of the Federal Reserve and the Treasury Secretary will be testifying before Congress at 3pm London time.
Until the Next Time.🤗
Ride the Macro
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