The double 0 numbers, and in this case triple 0, usually act like magnets for the price. They tend to be natural resistances and supports since these levels have a very important psicologic component.
Right now, Bitcoin hovering around $8,000 and performing a symmetrical triangle. These patterns normally mean trend continuation. When they are about to be completed the price breaks up or downwards.
Bitcoin has completed two significant pumps over the last days. Price pumps are usually compunded of two different legs. Now, the price is likely to make a pull-back.
Close your long and in case you would like to risk and go long, a tight stop-loss is highly recommended.
The Copilot
Right now, Bitcoin hovering around $8,000 and performing a symmetrical triangle. These patterns normally mean trend continuation. When they are about to be completed the price breaks up or downwards.
Bitcoin has completed two significant pumps over the last days. Price pumps are usually compunded of two different legs. Now, the price is likely to make a pull-back.
Close your long and in case you would like to risk and go long, a tight stop-loss is highly recommended.
The Copilot
Comment:
Incredibly long wick that has triggered every single stop-loss of any day trader.
Now with a bearish outlook and the price being held around $7,000.
Price very likely to continue its way down.
Now with a bearish outlook and the price being held around $7,000.
Price very likely to continue its way down.
There is a lot of speculation about the future price direction. NOBODY knows it for sure. This is crypto. But currently the charts are indicating a bearish behaviour.