The trading activity is stagnant and low is concerning, but the positives is that it is trading in a tight triangle formation that is nearing its breakout point.
The top of the triangle resistance is ~8900 and the bottom of the triangle formation is ~7850.
A review of the 4HR and 1HR charts looks like the market has room to the upside and the appears to be neutral and starting to point higher.
The bulls need a move over 8900 supported by solid , that could spike the market (possible stops over 9000) and we should be testing resistance in the ~9800 area rather quickly.
As mentioned, BTC/USD could be trading a 5 figure price real soon!
As mentioned in prior posts, we were scale down buyers in BTC , ETH, LTC and a few other coins. Sitting comfortably and looking to see this market by late March trading comfortably in the 5 figure handles and recording higher lows in the 14K range.
We know when we are wrong and have our Stops below.
*This is purely for educational purposes and is in no way investing advice*
R4 - 12750
R3 - 11500-11600
R2 - 10880
R1 - 9000-8900
Current price = 8700
S1 - 7850
S2 - 7550-7450
S3 - 6950-6900
Thank you for hitting the Like button :)
** This Is not professional investing advice, this is purely for educational purposes. Please do your own research. **