BTCUSDT UPDATE
BTC is still moving sideways in a bit of a consolidation box right now between the 7330 and 7500 support and resistance. We should continue to see this type of movement until we can get a solid close outside the box when btc decides whether if it is going up or down.
Running tight stop losses you could easily trade this channel for 2-2.5% gains bottom to top. Alternatively just hold on for some confirmation of the next impulse move.
In my opinion btc is looking fairly strong, having been held up by the 7330 support multiple times and testing the 7500 resistance multiple times.
If 7330 continues to hold then we may see a break up and a test of the 8K level.
A break of the 7330 support could see us head down to retest support around 7000-7100 area or the new potential trend line.
Watching closely for some confirmations of which way we are going to go.
Running tight stop losses you could easily trade this channel for 2-2.5% gains bottom to top. Alternatively just hold on for some confirmation of the next impulse move.
In my opinion btc is looking fairly strong, having been held up by the 7330 support multiple times and testing the 7500 resistance multiple times.
If 7330 continues to hold then we may see a break up and a test of the 8K level.
A break of the 7330 support could see us head down to retest support around 7000-7100 area or the new potential trend line.
Watching closely for some confirmations of which way we are going to go.
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