What up folks!
We' are having a pretty interesting time in the crypto market right now.
On the one-day-charts it's hard to tell where bitcoin is heading, one thing is for sure though, we will break one of the two trend lines (red - resistance; green - support) pretty soon.
When we break bearish we may go down to 3200 USD or just see a double bottum at 6000 USD.
If we break out bullish, there are several more resistance line to break though till the we' ll reach the 20k USD again.
Yesterday we were close breaking through the 200'day-MA, but today there was just not enough volume for that.
If the 50'day-MA goes under the 200'day-MA, it's one more bearish sign to look at.
As always, just invest what your also willing to lose and keep your stop-losses tight.
Peace out! - Monsi
We' are having a pretty interesting time in the crypto market right now.
On the one-day-charts it's hard to tell where bitcoin is heading, one thing is for sure though, we will break one of the two trend lines (red - resistance; green - support) pretty soon.
When we break bearish we may go down to 3200 USD or just see a double bottum at 6000 USD.
If we break out bullish, there are several more resistance line to break though till the we' ll reach the 20k USD again.
Yesterday we were close breaking through the 200'day-MA, but today there was just not enough volume for that.
If the 50'day-MA goes under the 200'day-MA, it's one more bearish sign to look at.
As always, just invest what your also willing to lose and keep your stop-losses tight.
Peace out! - Monsi