Looks like our technical analysis is no longer viable here. I had my bearish sentiment on my last 3 posts, however, with the recent news that just came in, I was forced to close my short positions for now. The fed decided to launch a 700 Billion USD quantitive easing program, which pushed Bitcoins price over 5% upwards instantly. Remember guys, the fundamentals will always have a greater impact on the markets than the technical analysis.
Not taking any positions for now due to the news. Going to have to wait and see how the market plays out in the following 24 hours after these news.
Updates will follow up!
Not taking any positions for now due to the news. Going to have to wait and see how the market plays out in the following 24 hours after these news.
Updates will follow up!
Note
Incase we see a solid breakout from the 5600 area, I will have my eyes on 6500 acting as the next major resistance zone!
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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.