BTC Update
Bitcoin is still under this famous zone between 7221 and 7273. This zone, as well as the 7600 level, has been a problem since the beginning of December.
BTC briefly went briefly above this level and peaked at 7445 before falling back below 7200 and is currently trading at 7174.
Indicators?
The daily and 4h technical situation is negative with a sales signal given by the WaveTrends. On a shorter time horizon, the indicators indicate a possible short term recovery.
What are the possibilities of evolution?
The situation on the longer timeframes indicates that a test of the 7000 or even the 6800 is likely. This will be an excellent entry point as well as a higher low if BTC bounces from this level. Otherwise, a retest of the last lows at 6400 will be very likely.
If the BTC explodes upwards ignoring its technical situation, a retest of the area marked by the red rectangle on the chart will be a good opportunity to open a long position.
In the meantime, stay safe guys!
Bitcoin is still under this famous zone between 7221 and 7273. This zone, as well as the 7600 level, has been a problem since the beginning of December.
BTC briefly went briefly above this level and peaked at 7445 before falling back below 7200 and is currently trading at 7174.
Indicators?
The daily and 4h technical situation is negative with a sales signal given by the WaveTrends. On a shorter time horizon, the indicators indicate a possible short term recovery.
What are the possibilities of evolution?
The situation on the longer timeframes indicates that a test of the 7000 or even the 6800 is likely. This will be an excellent entry point as well as a higher low if BTC bounces from this level. Otherwise, a retest of the last lows at 6400 will be very likely.
If the BTC explodes upwards ignoring its technical situation, a retest of the area marked by the red rectangle on the chart will be a good opportunity to open a long position.
In the meantime, stay safe guys!
