✴️ BTC Update
Sunday bloody Sunday!
How can we call it differently after a fall of more than 9% yesterday alone? It was indeed in the form of a huge bearish marabozu that the BTC closed the previous session.
The daily technical situation is now negative again, with MACD and WaveTrends falling. On a 4-hour horizon, the indicators are still in negative territory but we can see signs of bending on the WaveTrend.
📈 Trend follower?
Still positive on the daily horizon but negative in 1h and 4h.
👉 What to do?
The market structure remains bearish for the moment even if we can see a rebound on the support zone materialized by the retracement levels 61.8% and 65%. We will wait for a rebound to open a short position, the monthly open is a good candidate.
💹 Altcoins
According to the data available on Tradingview and after dropping very heavily this weekend, the majority of the altcoins are in the green this morning with gains of over 14% for QKC and HOT.
In this context of increased volatility, stay even more cautious guys!
Sunday bloody Sunday!
How can we call it differently after a fall of more than 9% yesterday alone? It was indeed in the form of a huge bearish marabozu that the BTC closed the previous session.
The daily technical situation is now negative again, with MACD and WaveTrends falling. On a 4-hour horizon, the indicators are still in negative territory but we can see signs of bending on the WaveTrend.
📈 Trend follower?
Still positive on the daily horizon but negative in 1h and 4h.
👉 What to do?
The market structure remains bearish for the moment even if we can see a rebound on the support zone materialized by the retracement levels 61.8% and 65%. We will wait for a rebound to open a short position, the monthly open is a good candidate.
💹 Altcoins
According to the data available on Tradingview and after dropping very heavily this weekend, the majority of the altcoins are in the green this morning with gains of over 14% for QKC and HOT.
In this context of increased volatility, stay even more cautious guys!