✴️ BTC Update #BTC_Update
What's new since the last update dear community? Well yesterday at the end of the day we were at 9700, we are still at 9700 in a context of decreasing volume.
Boring? Yes indeed!
Since May 28th, BTC is moving between the support zone at 9300 and the resistance zone between 10000 and 10200. If we analyze the uptrend from the low point at 3800, the average volume is constantly decreasing. If we zoom in on the last leg of the uptrend, from the 8700 to the high point at 10400, the same observation is made, the average trading volume is continuously decreasing.
As you know, it's never a good thing when the rise is not accompanied by a trading volume and that's why we continue to have a rather bearish bias in the medium term, as long as the 10500 is not exceeded.
The daily technical situation remains positive while on a 4-hour horizon, technical indicators have already crossed downwards.
📈 Trend follower?
Positive on the 3 main time horizons.
👉 What can be done?
A picture is better than a long explanation, if we look at the 1 hour chart of Bitcoin, the price is exactly between its support and resistance zones. In other words, it's a no-mans land!
We will therefore keep our short position at 10k as long as the price remains above the 9300 zone.
Stay safe 4C Family 😉
What's new since the last update dear community? Well yesterday at the end of the day we were at 9700, we are still at 9700 in a context of decreasing volume.
Boring? Yes indeed!
Since May 28th, BTC is moving between the support zone at 9300 and the resistance zone between 10000 and 10200. If we analyze the uptrend from the low point at 3800, the average volume is constantly decreasing. If we zoom in on the last leg of the uptrend, from the 8700 to the high point at 10400, the same observation is made, the average trading volume is continuously decreasing.
As you know, it's never a good thing when the rise is not accompanied by a trading volume and that's why we continue to have a rather bearish bias in the medium term, as long as the 10500 is not exceeded.
The daily technical situation remains positive while on a 4-hour horizon, technical indicators have already crossed downwards.
📈 Trend follower?
Positive on the 3 main time horizons.
👉 What can be done?
A picture is better than a long explanation, if we look at the 1 hour chart of Bitcoin, the price is exactly between its support and resistance zones. In other words, it's a no-mans land!
We will therefore keep our short position at 10k as long as the price remains above the 9300 zone.
Stay safe 4C Family 😉