Recently the upwards impulses from BTC .D have been met with ever increasing downwards momemtum resulting in a slumping action. This is usually a typical bearish indication of reduced momentum. I suspect BTC will start losing dominance to alts once it reaches the strong resistance zone indicated by the white box. Take this into consideration when placing long positions in assets. We could potentially see BTC .D fall to the lower zone of interest indicated by the red arrow.
This movement is supported by TA such as fib levels, stoch and other various trend indicators.
In terms of FA, the picture is more blurry, lots of talk of an SPX crash may impact this movement and abrupt changes in the price of GOLD also - be on your feet.
Will keep this idea updated.
This movement is supported by TA such as fib levels, stoch and other various trend indicators.
In terms of FA, the picture is more blurry, lots of talk of an SPX crash may impact this movement and abrupt changes in the price of GOLD also - be on your feet.
Will keep this idea updated.
Trade closed: target reached