Bitcoin CME Futures
Bitcoin is barely trading above 0.5 Fib support level but the 50,100, 200 MA in 1HR TF is acting as resistance.
Price is now trading outside the rising channel and this is not good in the short term. If the Bulls need to continue higher,
BTC needs to break above $7500 and hold it. Otherwise, Bears may have to bring the price down to 0.618 Fib support or even further to 0.786 regions.
Bitcoin is barely trading above 0.5 Fib support level but the 50,100, 200 MA in 1HR TF is acting as resistance.
Price is now trading outside the rising channel and this is not good in the short term. If the Bulls need to continue higher,
BTC needs to break above $7500 and hold it. Otherwise, Bears may have to bring the price down to 0.618 Fib support or even further to 0.786 regions.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.