Bmoody92

BTC basically a coin flip?

POLONIEX:BTCUSDT   Bitcoin / Tether USD
After the bullish run we have had this week the action has slowed down. Volume remains up so that is a good sign. On the daily 4h and 15m BTC is right at ichi resistance. We are at the top of the VPVR with a massive gap up to $7000. We could move to 7k or drop down to 6100 and test support again. In the long term falling wedge we can see the trend is at around $6800 for this time period. With all factors considered in this sideways channel it can go either way with a slight bullish bias. Bullish scenario clean break to $7000, slight pull back to $6800 then another upwards move to $7200. This scenario can very well happen with a increase of volume . Bearish scenario a run up to $6800 with a swift sell off and a couple red days bringing us to prior support. This is the most bullish the indicators have looked since hitting $7200. All things considered if you're trading keep the stop losses tight and leverage low. Happy trading.
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