BTCUSD - Bitcoin: Where to next?
Personally, I took the trade down on BTC. Right now it is starting to look bullish but I need more further clarification. I'm not a huge cryptocurrency trader, longer term I do see further higher prices as institutional investors gather in further.
Technical aspects:
Support: 53021.80, 51332.30, 48589.20
Resistance: 56941.55, 59509.60, 61706.00
Pattern: Inverse H&S - Break above for further clarification.
A break above: 57600 areas we could be heading back to 60k areas
A break below: 51300 areas we could decline further 47-45 areas and perhaps 36k.
Key tip: Cryptocurrency movement are greater than base FX, control your risk.
All the best,
Trade Journal
(Just a trade idea, not a recommendation)
Personally, I took the trade down on BTC. Right now it is starting to look bullish but I need more further clarification. I'm not a huge cryptocurrency trader, longer term I do see further higher prices as institutional investors gather in further.
Technical aspects:
Support: 53021.80, 51332.30, 48589.20
Resistance: 56941.55, 59509.60, 61706.00
Pattern: Inverse H&S - Break above for further clarification.
A break above: 57600 areas we could be heading back to 60k areas
A break below: 51300 areas we could decline further 47-45 areas and perhaps 36k.
Key tip: Cryptocurrency movement are greater than base FX, control your risk.
All the best,
Trade Journal
(Just a trade idea, not a recommendation)
Komen:
bears could now gain further control - Another updated post will be posted soon.
Komen:
And the bears did gain control! :)