The American stock market dropped by 5% when the market opened but the BTC market experienced a quick rebound and once presented green numbers. As for now, all the major tokens touched the bottom and rose back. From the movement of the 4-hours chart of the BTC market, the MACD is still on the process of adjusting. If the support at $4,800 can be held, it should be fine. As we analyzed several hours ao, the short-term market of BTC should run in the shocking range from $4,800 to $6,000, so buy low sell high within this range while stop-loss at $4,750 is available. Even the downtrend remained, a continuous operation like what we said before should bring you considerable profits. Due to the market fluctuated fast, appropriately reducing the leverage in 5 to 10 times should be a better choice when you trade futures.
The short-term shock of the ETH market became less and less, which means the battle between the longs and shorts is quieter than before. Once this situation is broken, the market will make a selection. Once the pressure at $120 is broken, it would be the signal to long it. And it is obvious that before it is broken, aggressively long would be risky since the market still tends to drop. We should be patient.
#BTC #BTCUSD #Cryptocurrency
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.
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.