BTC can break 7900 in short term? U should be cautious!
Currently, the short term trend of BTC is becoming hard to predict as some of the altcoins pumped a lot like XRP, LTC and ETC. However, to be the leader of the crypto, BTC and ETH didn't follow, we could only define these pumping as a single action of the main force, it's not easy for these coins to stabilize on the current level without the reply of BTC.
To BTC, although price still keep rebounding during recent months, however, the volume chart gives us the signal that strength of the bulls can't be treated optimistically. From the 1H chart, we could clearly see that the resistance is so hard above $7800, this slowly rising without a material volume increasing can't make the rebound keep longer.
Investors should be careful more about the big range of pullback at any moment, especially if a rapid pump happen in a short period, it's easy to fall back quickly. So today, i still suggest u guys that can try a short position around $7850~$7900.
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.