Quick update on the BTCUSD markets for the short term.
We can see that the market is clearly hitting against the ceiling at around 11600 – 12000.
With the Bulls staying shy of the market we can see that the demand is dwindling and the CCI might switch over to Bear mode soon.
On the short term I would advise caution to those speculating on the Bitcoin markets. We will see the CME futures expiring today and get a clear idea what the street is up to.
Short term support for BTCUSD is at 9k – 10k.
Medium/Long Term support could be as low as 7k or even lower.
It is a good practice for traders to take a look at the 1day and 1week candles to asses complete situation the market finds itself in.
Even though I believe this is still a very healthy correction for the market, many speculators/investors will reassess their commitments when/if $9k should break.
Feel free to discuss this trade idea with us.
We can see that the market is clearly hitting against the ceiling at around 11600 – 12000.
With the Bulls staying shy of the market we can see that the demand is dwindling and the CCI might switch over to Bear mode soon.
On the short term I would advise caution to those speculating on the Bitcoin markets. We will see the CME futures expiring today and get a clear idea what the street is up to.
Short term support for BTCUSD is at 9k – 10k.
Medium/Long Term support could be as low as 7k or even lower.
It is a good practice for traders to take a look at the 1day and 1week candles to asses complete situation the market finds itself in.
Even though I believe this is still a very healthy correction for the market, many speculators/investors will reassess their commitments when/if $9k should break.
Feel free to discuss this trade idea with us.
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.
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.