Bitcoin has suffered from Friday's sell-off, though it tends to show signs of recovery during Monday’s session. After record liquidations worth of 20 billion dollars on the crypto markets, the sentiment for cryptos remains halted, but BTC tends to act as a “digital gold”, and a safe haven to some degree, that’s why it’s possible to observe some demand coming in to the BTC market later.
From a technical standpoint, BTCUSD has come to the dynamic resistance area (the distance between 20 and 50 moving averages), and if it would not show any signs of further recovery, it would probably pull back to the $110000 price area with a further consolidation.
Don't forget - this is just the idea, always do your own research and never forget to manage your risk!
From a technical standpoint, BTCUSD has come to the dynamic resistance area (the distance between 20 and 50 moving averages), and if it would not show any signs of further recovery, it would probably pull back to the $110000 price area with a further consolidation.
Don't forget - this is just the idea, always do your own research and never forget to manage your risk!
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.