✴️ BTC Update
What's new after that weekend in lockdown for many of us?
As I told you on Saturday, Bitcoin had bounced back to the 61.8 zone - 65% Fibonacci retracement, a trade could still be opened but given the amplitude of the bounce (~12%), it was becoming more risky. This zone nevertheless held and the golden pocket once again served as a support for the BTC which is currently trading at 5784.
To aim higher, this zone must imperatively hold but this hypothesis is beginning to be seriously questioned.
The daily technical situation remains positive even if we can see some signs of bearish curvature on the indicators. On the 4h horizon, the indicators are bearish as on the 1h timeframe.
📈 Trend follower?
Bearish on all analysis time horizons.
👉 What can be done?
The rebound on the famous Fibonacci zone was of a ridiculous amplitude with less volume than the first time. The conclusion that can be drawn from this situation, adding the technical situation, is that the risk of a drop now becomes non-negligible.
This is why we will remain attentive to the evolution of Bitcoin in the following hours. If it breaks its upward zone / triangle, we will be able to open a long position or keep the one we have. If on the other hand this zone is broken downwards, then we will consider a short position on retesting the red zone.
💹 Altcoins?
No real trend this morning on the highs and lows, with the highs and lows balancing out since the beginning of the session with INS and HBAR dropping more than 7.5%. On the upside, STORJ stands out with more than 10% gains followed by LSK with 4.5%.
Stay safe guys! 💪😉
Enjoy our analysis!
Your 4C-Trading Team 💚
What's new after that weekend in lockdown for many of us?
As I told you on Saturday, Bitcoin had bounced back to the 61.8 zone - 65% Fibonacci retracement, a trade could still be opened but given the amplitude of the bounce (~12%), it was becoming more risky. This zone nevertheless held and the golden pocket once again served as a support for the BTC which is currently trading at 5784.
To aim higher, this zone must imperatively hold but this hypothesis is beginning to be seriously questioned.
The daily technical situation remains positive even if we can see some signs of bearish curvature on the indicators. On the 4h horizon, the indicators are bearish as on the 1h timeframe.
📈 Trend follower?
Bearish on all analysis time horizons.
👉 What can be done?
The rebound on the famous Fibonacci zone was of a ridiculous amplitude with less volume than the first time. The conclusion that can be drawn from this situation, adding the technical situation, is that the risk of a drop now becomes non-negligible.
This is why we will remain attentive to the evolution of Bitcoin in the following hours. If it breaks its upward zone / triangle, we will be able to open a long position or keep the one we have. If on the other hand this zone is broken downwards, then we will consider a short position on retesting the red zone.
💹 Altcoins?
No real trend this morning on the highs and lows, with the highs and lows balancing out since the beginning of the session with INS and HBAR dropping more than 7.5%. On the upside, STORJ stands out with more than 10% gains followed by LSK with 4.5%.
Stay safe guys! 💪😉
Enjoy our analysis!
Your 4C-Trading Team 💚
