The Spring is tightening, but which way it will unfold?
Hi, Traders !
Monfex is at your service !
What is going on with Bitcoin so far ?
* The battle between bulls and bears around $8,000 is not calming down, and the spring really becomes clenched.
* The price has temporarily stopped by the middle of 1D descending channel signalling that market participants took a break in order to determine a further direction.
* On 1H price made a second attempt to break above a minor resistance at $8,250, but yet unsuccessfully.
* There is an obvious Volume accumulation area around $8,000, which still stands out in favor of bulls.
* The further development of the situation is rather ambiguous and depends on the strength of bulls and mainly the state of the Bull exhaustion.
What should we do ?
Be ready for both scenario:
* You can try a speculative trade from around $8,000 with a target at around $8,500. Tight stop-losses (about 100 b.p.) should be used.
* Should the price start confidently breaking below $8,000, be prepared to swiftly reverse your position to a Short with a juicy target in the area of $5,000.
Watch for our Updates to get real-time superior signals !
GOOD LUCK AND LOTS OF PROFITS !!
Disclaimer
This report is for information purposes only and should not be considered a solicitation to buy or sell any cryptocurrency or cryptocurrency product. Monfex accepts no responsibility for any consequences resulting from the use of this material. Any person acting on this trade idea does so entirely at their own risk.
Monfex is at your service !
What is going on with Bitcoin so far ?
* The battle between bulls and bears around $8,000 is not calming down, and the spring really becomes clenched.
* The price has temporarily stopped by the middle of 1D descending channel signalling that market participants took a break in order to determine a further direction.
* On 1H price made a second attempt to break above a minor resistance at $8,250, but yet unsuccessfully.
* There is an obvious Volume accumulation area around $8,000, which still stands out in favor of bulls.
* The further development of the situation is rather ambiguous and depends on the strength of bulls and mainly the state of the Bull exhaustion.
What should we do ?
Be ready for both scenario:
* You can try a speculative trade from around $8,000 with a target at around $8,500. Tight stop-losses (about 100 b.p.) should be used.
* Should the price start confidently breaking below $8,000, be prepared to swiftly reverse your position to a Short with a juicy target in the area of $5,000.
Watch for our Updates to get real-time superior signals !
GOOD LUCK AND LOTS OF PROFITS !!
Disclaimer
This report is for information purposes only and should not be considered a solicitation to buy or sell any cryptocurrency or cryptocurrency product. Monfex accepts no responsibility for any consequences resulting from the use of this material. Any person acting on this trade idea does so entirely at their own risk.
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