The relief rally yesterday is turning back down, with previous support level now acting as significant resistance.
A 15% drop is feasible based on the long-term technical market structure.
Long-term position holders face a difficult decision, whether to exit BTCUSD and wait on the sidelines for a possible drop... or hold through the volatility.
Short-term intraday or swing traders may look for fast rally's in either direction to scalp the market for quick profits. That time consuming manual trading approach is where many amateur traders lose money.
The most hopeful traders will look for a rally back above the resistance level to see confidence return to the market.
SparksterSignals helps make automatic trade decisions based on historical backtesting on both long and short-term time-frames. Join us there via the link below for free access to our alpha version tool.
We'll follow up with shorter time-frame analysis on BTC and ETH.
Note: SparksterSignals (including our technical analysis and our algorithmic backtested signals) are not provided as financial advice.
A 15% drop is feasible based on the long-term technical market structure.
Long-term position holders face a difficult decision, whether to exit BTCUSD and wait on the sidelines for a possible drop... or hold through the volatility.
Short-term intraday or swing traders may look for fast rally's in either direction to scalp the market for quick profits. That time consuming manual trading approach is where many amateur traders lose money.
The most hopeful traders will look for a rally back above the resistance level to see confidence return to the market.
SparksterSignals helps make automatic trade decisions based on historical backtesting on both long and short-term time-frames. Join us there via the link below for free access to our alpha version tool.
We'll follow up with shorter time-frame analysis on BTC and ETH.
Note: SparksterSignals (including our technical analysis and our algorithmic backtested signals) are not provided as financial advice.
