BTCUSD - Short Term - Will BTC trade in $3000 ranges again soon?
In a short term perspective: Bitcoin has had a bull squeeze and is slowly moving down. The volume indicates that the price wants to move lower by having higher volumes during downwards movement. Open interest is very low at the moment.
If price falls below $4420, it will probably trade lower, back in to 3K ranges. However, if the price falls, it will be respecting a descending parallel channel, which is a traditional bull flag.
Keep in mind, even a bull flag may not break out much in current market conditions.
Keep a eye on the traditional stock markets for any drastic moments, bitcoin is likely to follow based on recent trend patterns.
Stay safe and happy trading!
If price falls below $4420, it will probably trade lower, back in to 3K ranges. However, if the price falls, it will be respecting a descending parallel channel, which is a traditional bull flag.
Keep in mind, even a bull flag may not break out much in current market conditions.
Keep a eye on the traditional stock markets for any drastic moments, bitcoin is likely to follow based on recent trend patterns.
Stay safe and happy trading!
Smart Crypto Association [ SCA ]
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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.
Smart Crypto Association [ SCA ]
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.