Bitcoin Back Above Key Level With Positive Momentum
If you've tracked our updates the past couple days you can see a glimpse of how quickly and easily market sentiment can change based on manual technical analysis.
Earlier today we said "Bitcoin Beyond Hope? 3% Drop At Hand". Here's the chart:
As of right now, price sentiment has reversed and we're back above resistance.
What a big consumption of time. And all for just a couple of percentage points either way up or down. But of course the opportunities and risks are larger. A drop could turn 3% into 30% and you miss it. Or a sudden price rally could turn 3% gain into a 30% climb. So we have to pay close attention... or do we?
SparksterSignals can help with algo-assisted signaling including fully backtested strategies (with clear performance metrics).
Check out our link below.
As of right now, sure enough, price action is reaching above the same horizontal level we've been watching since yesterday. This may indicate strong enough market sentiment that no further drop will happen.
If price climbs back into the yellow shaded region as shown, there's a good chance that panic stations are over and traders will be looking for new long positions.
We advise caution until momentum indicators reset on longer time-frames. We also advise making use of our algo-assisted signal and backtesting system.
Note: SparksterSignals (including our technical analysis and our algorithmic backtested signals) are not provided as financial advice.
Earlier today we said "Bitcoin Beyond Hope? 3% Drop At Hand". Here's the chart:
As of right now, price sentiment has reversed and we're back above resistance.
What a big consumption of time. And all for just a couple of percentage points either way up or down. But of course the opportunities and risks are larger. A drop could turn 3% into 30% and you miss it. Or a sudden price rally could turn 3% gain into a 30% climb. So we have to pay close attention... or do we?
SparksterSignals can help with algo-assisted signaling including fully backtested strategies (with clear performance metrics).
Check out our link below.
As of right now, sure enough, price action is reaching above the same horizontal level we've been watching since yesterday. This may indicate strong enough market sentiment that no further drop will happen.
If price climbs back into the yellow shaded region as shown, there's a good chance that panic stations are over and traders will be looking for new long positions.
We advise caution until momentum indicators reset on longer time-frames. We also advise making use of our algo-assisted signal and backtesting system.
Note: SparksterSignals (including our technical analysis and our algorithmic backtested signals) are not provided as financial advice.
