The Bitcoin pullback has now taken a deeper turn and we have fallen back to $40k which is a key Psychological level and potential support.
A break lower here would open up $38 and $34k which is the recent lows of this year.
The market correlation with Crypto and traditional stock risk appetite is getting closer and a reversal in US stock markets should help Bitcoin get support.
Range trading is a third option that BTC can enter into with an orbit around $40k but such a outcome is abnormal for Bitcoin.
Buyers want to see a break above $40600 in the short term and then likely we test $42000.
A break lower here would open up $38 and $34k which is the recent lows of this year.
The market correlation with Crypto and traditional stock risk appetite is getting closer and a reversal in US stock markets should help Bitcoin get support.
Range trading is a third option that BTC can enter into with an orbit around $40k but such a outcome is abnormal for Bitcoin.
Buyers want to see a break above $40600 in the short term and then likely we test $42000.
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Come join us today at : easymarkets.com/
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.