Hi all, jumping straight into the charts,
The cryptocurrency market has been flat-lining the past week, with BTC gaining some dominance and leaving altcoins bleeding slowly.
BTC specifically, has been trading in an ascending channel the past week with majority price action between 7400-7700. Hugging the 50MA and leading span of the ichimoku cloud, its hard to tell which direction its headed for.
Indicators MACD and RSI are pretty neutral at the moment so there's not too much to go on.
I would not play this too aggressively for now until there is a strong signal, but for all those bulls out there, BTC is on the lower end of the ascending channel. So if you're feeling trigger happy, this may be opportune for a quick swing trade.
Happy trading out there :)
The cryptocurrency market has been flat-lining the past week, with BTC gaining some dominance and leaving altcoins bleeding slowly.
BTC specifically, has been trading in an ascending channel the past week with majority price action between 7400-7700. Hugging the 50MA and leading span of the ichimoku cloud, its hard to tell which direction its headed for.
Indicators MACD and RSI are pretty neutral at the moment so there's not too much to go on.
I would not play this too aggressively for now until there is a strong signal, but for all those bulls out there, BTC is on the lower end of the ascending channel. So if you're feeling trigger happy, this may be opportune for a quick swing trade.
Happy trading out there :)