Trading plan: BTCUSD (Bitcoin)
Yesterday's rise in the rate of Bitcoin was most likely a correction to the downward movement. Volume analysis indicates that the size of the positions of buyers has not grown. The total volume of trading is small, so the growth of Bitcoin rate did not continue.
Priority of the day: neutral position on BTCUSD.
We, as always, on the side of the strongest. If the market does not grow, then it will fall. According to volume analysis, resistance levels for Bitcoin are: $ 8700 - $ 8500, and support levels: $ 8096, $ 7800, $ 7657.
As can be seen from our graph, the descending channel has not yet been broken through, the rate of Bitcoin is clamped into the Triangle. That is why we are out of the market today: it is not clear where we will go.
Projected scenarios:
1. Buy BTCUSD from $ 8096 to $ 8700.
2. Sell BTCUSD from $ 8500 - $ 8700 to $ 7800.
An alternative scenario:
Flat in the area of $8400 - $8200. Today, we recommend our subscribers to wait for the better situation.
Priority of the day: neutral position on BTCUSD.
We, as always, on the side of the strongest. If the market does not grow, then it will fall. According to volume analysis, resistance levels for Bitcoin are: $ 8700 - $ 8500, and support levels: $ 8096, $ 7800, $ 7657.
As can be seen from our graph, the descending channel has not yet been broken through, the rate of Bitcoin is clamped into the Triangle. That is why we are out of the market today: it is not clear where we will go.
Projected scenarios:
1. Buy BTCUSD from $ 8096 to $ 8700.
2. Sell BTCUSD from $ 8500 - $ 8700 to $ 7800.
An alternative scenario:
Flat in the area of $8400 - $8200. Today, we recommend our subscribers to wait for the better situation.
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