Hello, Traders! Monfex is at your service and today we overview BTC/USD.
What do you expect from Bitcoin ?
BTC near the support line of this bearish formation and we see a local resistance and support zones. A local resistance(the dark zone) ~ $ 8200 - 8150 A local support(the green zone) ~ $ 7950 - 8000 Indicators more negative and going to the neutral mood.
Have 2 target zones by breakout one of the local levels: The long target zone ~ $ 8500 The short target zone ~ $ 7700 - 7500
What do we do now?
Wait for some of the breakouts. Bulls can still fight for their goals, but bears globally in a domination position.
Share your thoughts, ideas about the market under the chart.
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Disclaimer This report is for information purposes only and should not be considered a solicitation to buy or sell any trading assets. Monfex accepts no responsibility for any consequences resulting from the use of this material. Any person acting on this trade idea does so entirely at their own risk.