BitcoinLong
BTCUSD - Play the cash channel!
The price of bitcoin has been trading very technically!
The price went up to test 11.2K and was rejected by the resistance ( golden ratio, rising channel resistance ).
Now the price has fallen to previous support / bottom of the channel at the next 0.618 golden ratio. The price move down did not subject to massive volumes - This could mean that the bulls are not willing to buy at the previous levels (upper 10K-lower 11K) (thin order books). so when the bulls enter, would the price just as easily go up? probably not because I suspect there will be a lot of "market maker" short offers waiting around 11K.
Keeping in mind this could be a local support, but please consider - rising channels break down after a couple of bounces off the support channel. Keep an eye for any bullish volume to come in for a long entry, otherwise hang back and wait for better prices.
Cheers happy trading :)
The price went up to test 11.2K and was rejected by the resistance ( golden ratio, rising channel resistance ).
Now the price has fallen to previous support / bottom of the channel at the next 0.618 golden ratio. The price move down did not subject to massive volumes - This could mean that the bulls are not willing to buy at the previous levels (upper 10K-lower 11K) (thin order books). so when the bulls enter, would the price just as easily go up? probably not because I suspect there will be a lot of "market maker" short offers waiting around 11K.
Keeping in mind this could be a local support, but please consider - rising channels break down after a couple of bounces off the support channel. Keep an eye for any bullish volume to come in for a long entry, otherwise hang back and wait for better prices.
Cheers happy trading :)
Smart Crypto Association [ SCA ]
Powiązane publikacje
Wyłączenie odpowiedzialności
Informacje i publikacje przygotowane przez TradingView lub jego użytkowników, prezentowane na tej stronie, nie stanowią rekomendacji ani porad handlowych, inwestycyjnych i finansowych i nie powinny być w ten sposób traktowane ani wykorzystywane. Więcej informacji na ten temat znajdziesz w naszym Regulaminie.
Smart Crypto Association [ SCA ]
Powiązane publikacje
Wyłączenie odpowiedzialności
Informacje i publikacje przygotowane przez TradingView lub jego użytkowników, prezentowane na tej stronie, nie stanowią rekomendacji ani porad handlowych, inwestycyjnych i finansowych i nie powinny być w ten sposób traktowane ani wykorzystywane. Więcej informacji na ten temat znajdziesz w naszym Regulaminie.