Bitcoin is currently in the short term ranging between 45600 and 42000. There’s a very short term support level in between that at around 42500. Price is attempting to form a cup w/ handle pattern which could explain the current drop down toward the 42500 level as weak holders are shaken out. A return to upward movement would create an early entry for traders but a breakout above the cup would be a stronger signal to confirm further upset but w/ expectation of a higher entry and therefore lower returns. Right now BTC is indecisive but a break below support or above the cup should confirm the next direction. Bitcoin is living above the 50 day SMA but below the 100 & 200. Volume has not been heavy enough with all the indecision to push it back above those resistance levels.
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Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.