The weekly timeframes-
10k is a SINGIFICANT resistance. Would be cautious as long as price is below 10k,
But once btc takes out 12k again, I would have some bullish sentiment.
This is what im seeing on lower timeframes.
As you can see, Price has been ranging 9k - 9.8k for couple of months now. It has been absolutely horrific to trade this price action.
Its has pumped back to the mid point of the range breaking a month long trendline to get there. Could it continue? Possibly.
I'd advise shorters to be cautious at this time.
This sort of funding is not healthy for downwards movements. Won't be surprised if there is a mini squeeze of some sort.
Really there's not much else going on in these charts.
10k is a SINGIFICANT resistance. Would be cautious as long as price is below 10k,
But once btc takes out 12k again, I would have some bullish sentiment.
This is what im seeing on lower timeframes.
As you can see, Price has been ranging 9k - 9.8k for couple of months now. It has been absolutely horrific to trade this price action.
Its has pumped back to the mid point of the range breaking a month long trendline to get there. Could it continue? Possibly.
I'd advise shorters to be cautious at this time.
This sort of funding is not healthy for downwards movements. Won't be surprised if there is a mini squeeze of some sort.
Really there's not much else going on in these charts.
Comment:
better not be long at this time. Atleast wait for 9400 to be reclaimed...This is not good. If this is breakout from trendline wtf is it doing back in it? Would be cautious. Super hard to trade this chop. Ideal short would be break below 9k..
Comment:
uhhh so almost more than 2 weeks to make that move. man these markets are miserable AF.. RIP to all traders trading this chop.
I aint taking any trades unless btc goes near 9.8 or breaks 9k thats the interesting turning point to me. Till then its chop of death and a waste of time.
I aint taking any trades unless btc goes near 9.8 or breaks 9k thats the interesting turning point to me. Till then its chop of death and a waste of time.
Comment:
Hmm interesting price movement..breakout?
back in the trendline.