When looking at bitcoin on the 2hr TF we can see that it has had a very bullish week. With the Super Bowl happening this weekend and a lot of people calling it the Crypto Bowl, many expect this to have a positive effect on bitcoin throughout the weekend. Now we hear that the FEDs have announced an emergency meeting for Monday 2/14/2020 which is right after the Crypto Bowl. The market seems to already be reacting to this news and I'm not surprised because the last time this happened, interest rates were raised right away. When these rates rise a bearish effect on the stock and crypto market usually follows. We're not sure where the selling pressure will end but I do believe if we can say above the 30ks it's a good sign. I've mapped a few support and resistance zones to keep an eye on. Set your stop-losses and always remember to take profit.
Don't trade with what you're not willing to lose. Safe Trading, Calculate Your Risk/Reward & Collect!
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This is not financial advice. This is for educational purposes only.
Don't trade with what you're not willing to lose. Safe Trading, Calculate Your Risk/Reward & Collect!
Love it or hate it, hit that thumbs up and share your thoughts below!
This is not financial advice. This is for educational purposes only.