Hello Traders, here is my analysis for BTCUSD.
Tonights post is going to be short again, there really haven't been any new major developments so my technical analysis from my prior posts are still applicable.
The only change from yesterdays analysis is that BTC is now trading on an ascending trend line. As you can see price has bounced from the trend line 3 times which is a good indicator that traders are playing this trend line.
- As long as BTC bounces from this trend line the trend is intact.
- If price drops below the trend line then the trend is no longer valid and we will need to re-asses for the next trend.
- If price did drop below, this trend line could potentially act as resistance later on so keep that in mind.
That's it for tonight's analysis, thanks everyone and best of luck trading!
Tonights post is going to be short again, there really haven't been any new major developments so my technical analysis from my prior posts are still applicable.
The only change from yesterdays analysis is that BTC is now trading on an ascending trend line. As you can see price has bounced from the trend line 3 times which is a good indicator that traders are playing this trend line.
- As long as BTC bounces from this trend line the trend is intact.
- If price drops below the trend line then the trend is no longer valid and we will need to re-asses for the next trend.
- If price did drop below, this trend line could potentially act as resistance later on so keep that in mind.
That's it for tonight's analysis, thanks everyone and best of luck trading!