So BTCUSD broke down from upward channel. Now, we're seeing a correction down to the 0.5 Fibo to 0.618 Fibo. Shouldn't go as low as the demand zone as there's no negative news that should pull the prices down. See chart above for reversal points.
DMI also confirmed that the sellers have taken over.
Always trade with caution during down times. Make sure to cut your losses by placing your money on USD/USDT. You can also trade with altcoins paired to USD fiat whenever you see an opportunity. Once BTCUSD reverses, that's the time you will buy back and perform your strategies as usual.
DMI also confirmed that the sellers have taken over.
Always trade with caution during down times. Make sure to cut your losses by placing your money on USD/USDT. You can also trade with altcoins paired to USD fiat whenever you see an opportunity. Once BTCUSD reverses, that's the time you will buy back and perform your strategies as usual.
Comment:
Be careful of a dead cat bounce. If BTC could push up from this downtrend, then we're looking for a retest of the all time high. There's demand but I don't know how it will perform. Just watch the price action for now. BTC tends to give selling signals, then after an hour, it goes up again. That's how bullish everyone is with BTC on normal market conditions.