FieryTrading

πŸ”₯ Bitcoin In Area Of DANGER: Macro Signal! 🚨

Short
FieryTrading Updated   
INDEX:BTCUSD   Bitcoin
In this analysis I want to take a look at one of my more popular indicators; Bitcoin's Logarithmic Price Bands. In case you want to know more about this indicator, please check out the link on the bottom of this post.

Back in March I made an analysis with the same title, where I argued that Bitcoin had entered an area of danger (the yellow mid band of the indicator).


The yellow band has historically proven to be a strong resistance. With BTC retesting the bottom support of the yellow band there's a serious risk of BTC falling through, resulting in further selling.

It's too early to tell whether BTC will correct all the way back to the green band, like last cycle. Nevertheless, the indicator has again proven to offer significant long-term trading opportunities.

How low do you think that BTC will go? Happy to hear your thoughts πŸ™

Comment:
The indicator that I build and used for this analysis:

🎯Official Channel: t.me/FieryTradingChannel

πŸ“ˆTry my Premium Signals for FREE - 80% Win-Rate: t.me/FT_Futures_free

βœ…Monster Signals: t.me/monster_cryptosignals

πŸ”₯Premium Signals: www.fierytrading.com
Disclaimer

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