✴️ BTC Update #BTC_Update
New day, time to take a look at Bitcoin guys! At the risk of disappointing you, the message is going to stay pretty much the same, this famous resistance zone at 6900 is still not broken and we won't open any long positions as long as it stays that way. Ok we agree on that, but what about the shorts?
That's exactly what today's update is about!
The daily technical situation remains positive for the moment but the technical indicators on the 4h horizon have given a selling signal. Moreover, the BTC has still not printed a higher high, on the contrary!
📈 Trend follower?
Still negative on a daily basis but positive in 1h and 4h.
👉 What can be done?
For the moment the BTC is in the middle of its range so nothing immediate. We are currently above a support zone between 6250 and 6290, if this last break we can open a short position to aim for a return to the 6000 zone. However, we could see a push up before dropping, around 6650, which would then be another good short opportunity.
💹 Altcoins
A short majority of the market is showing slight gains since the beginning of the session, but no strong market trend.
Stay safe guys, position sizing and risk management!
New day, time to take a look at Bitcoin guys! At the risk of disappointing you, the message is going to stay pretty much the same, this famous resistance zone at 6900 is still not broken and we won't open any long positions as long as it stays that way. Ok we agree on that, but what about the shorts?
That's exactly what today's update is about!
The daily technical situation remains positive for the moment but the technical indicators on the 4h horizon have given a selling signal. Moreover, the BTC has still not printed a higher high, on the contrary!
📈 Trend follower?
Still negative on a daily basis but positive in 1h and 4h.
👉 What can be done?
For the moment the BTC is in the middle of its range so nothing immediate. We are currently above a support zone between 6250 and 6290, if this last break we can open a short position to aim for a return to the 6000 zone. However, we could see a push up before dropping, around 6650, which would then be another good short opportunity.
💹 Altcoins
A short majority of the market is showing slight gains since the beginning of the session, but no strong market trend.
Stay safe guys, position sizing and risk management!