The price of
BTCUSD
its being forming the volatility contraction pattern (VCP) while above the 50 day moving average, good sign. The price has been trying to breakout above 62k, if that happens I think I´ll add to my position in OTC:GBTC, which is also forming the same pattern. The bad thing is that the last 3 trading days the price closed below the high level. Its not a great deal but still, not the kind of thing you want to see before a rally.
If
BTCUSD
doesn´t breaks out the 62k zone soon it could drop, the support areas are 50k and 42k. For me if the price drops below the 50 day moving average I´ll just take profits and wait for better conditions.
BTCUSD
its being forming the volatility contraction pattern (VCP) while above the 50 day moving average, good sign. The price has been trying to breakout above 62k, if that happens I think I´ll add to my position in OTC:GBTC, which is also forming the same pattern. The bad thing is that the last 3 trading days the price closed below the high level. Its not a great deal but still, not the kind of thing you want to see before a rally. If
BTCUSD
doesn´t breaks out the 62k zone soon it could drop, the support areas are 50k and 42k. For me if the price drops below the 50 day moving average I´ll just take profits and wait for better conditions.