✴️ BTC Update #BTC_Update
What's new since yesterday, guys?
Well the higher low registered yesterday is still preserved for the moment, rather positive even if we still haven't broken the resistance zone materialized by the red rectangle. We have nevertheless had a bounce and Bitcoin is currently trading at 5400.
A buy signal has been given by the WaveTrend on the daily and 4h horizon, which is rather positive.
📈 Trend follower?
Positive on 1h and negative on 4h and daily.
👉 What to do?
Just yesterday the traditional stock markets were plummeting in the face of the expansion of the Covid-19 virus in a particularly affected Europe and the sudden drop in FED rates. President Emmanuel Macron addressed France yesterday for 21 minutes and announced even tougher measures, forbidding even the private meeting. What struck me most, guys, was the very strong measures to help businesses and therefore the economy, which should reassure the markets.
De facto, the CFD replicating the CAC40 as well as the one replicating the DAX30 are of more than 6% since their opening. This could also be a technical rebound.
👉 Why am I telling you this?
Because since the beginning of this crisis, the traditional and cryptos markets have evolved together, so we can expect a rebound on the BTC if the world stock markets recover. But they will recover when confidence returns, and the French president's speech yesterday is a good start for that.
Technical buying condition for the BTC: Exceed the 5580 - 5940 zone, and buy on retest!
Stay safe, dear community!
What's new since yesterday, guys?
Well the higher low registered yesterday is still preserved for the moment, rather positive even if we still haven't broken the resistance zone materialized by the red rectangle. We have nevertheless had a bounce and Bitcoin is currently trading at 5400.
A buy signal has been given by the WaveTrend on the daily and 4h horizon, which is rather positive.
📈 Trend follower?
Positive on 1h and negative on 4h and daily.
👉 What to do?
Just yesterday the traditional stock markets were plummeting in the face of the expansion of the Covid-19 virus in a particularly affected Europe and the sudden drop in FED rates. President Emmanuel Macron addressed France yesterday for 21 minutes and announced even tougher measures, forbidding even the private meeting. What struck me most, guys, was the very strong measures to help businesses and therefore the economy, which should reassure the markets.
De facto, the CFD replicating the CAC40 as well as the one replicating the DAX30 are of more than 6% since their opening. This could also be a technical rebound.
👉 Why am I telling you this?
Because since the beginning of this crisis, the traditional and cryptos markets have evolved together, so we can expect a rebound on the BTC if the world stock markets recover. But they will recover when confidence returns, and the French president's speech yesterday is a good start for that.
Technical buying condition for the BTC: Exceed the 5580 - 5940 zone, and buy on retest!
Stay safe, dear community!