Morning folks,
Changings in fundamental background has triggered run-to-safety and all dollar rivals were pushed lower, including BTC. We do not expect significant drop till the end of the week, as BTC stands oversold, but in perspective of 1-2 weeks - it might go lower. This is the reason why we're mostly focused only on 46K level as next area where we could consider long entry.
Short positions are not welcome as well, because of daily oversold level. Currently only very short-term, scalp setups exists. Thus, intraday traders could consider support levels, where market stands right now and next one around 50K where minor bounce could happen.
Thus - no longs for daily traders, no shorts, scalp longs from support areas are possible on 1H and below time frames.
Changings in fundamental background has triggered run-to-safety and all dollar rivals were pushed lower, including BTC. We do not expect significant drop till the end of the week, as BTC stands oversold, but in perspective of 1-2 weeks - it might go lower. This is the reason why we're mostly focused only on 46K level as next area where we could consider long entry.
Short positions are not welcome as well, because of daily oversold level. Currently only very short-term, scalp setups exists. Thus, intraday traders could consider support levels, where market stands right now and next one around 50K where minor bounce could happen.
Thus - no longs for daily traders, no shorts, scalp longs from support areas are possible on 1H and below time frames.
ForexPeaceArmy BTC analytics :
forexpeacearmy.com/r/author/11/sive-morten-blog
FX, GOLD:
forexpeacearmy.com/community/forums/sive-morten-currencies-and-gold-video-analysis.122/
forexpeacearmy.com/r/author/11/sive-morten-blog
FX, GOLD:
forexpeacearmy.com/community/forums/sive-morten-currencies-and-gold-video-analysis.122/
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.
ForexPeaceArmy BTC analytics :
forexpeacearmy.com/r/author/11/sive-morten-blog
FX, GOLD:
forexpeacearmy.com/community/forums/sive-morten-currencies-and-gold-video-analysis.122/
forexpeacearmy.com/r/author/11/sive-morten-blog
FX, GOLD:
forexpeacearmy.com/community/forums/sive-morten-currencies-and-gold-video-analysis.122/
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.