Bitcoin Sees Potential Buy Opportunity

Today in the after hours trading session Bitcoin fell to lows of 20785. It might be a good area for a potential buy here as Bitcoin has shown strong bearish volatility and has not been at these levels since mid July. 4 hour RSI has been recently quite low at a value of 13.94, usually not seen too often. The 4 hour KC and BB median price which is around the SMA 20 sits near 22600 which is fairly far away. Bitcoin was trading well above the daily 20 SMA until the last session when the DXY spiked, which most likely lead to Bitcoin's short fall. It should be highly probably that the DXY will retrace lower next week pretty strongly. The DXY rose in the New York session to highs of 108.215, and ended the session in a red 4 hour candle, investors and banks are most likely to short the DXY next week which can lead Bitcoin to rise. Recently bitcoin has shown some bullish momentum on the 4 hour MACD histogram. Note GBPUSD longs should recover next week and also was a little early. Note that crypto holds more risk than fx pairs and currency trading due to manipulation and the nature of the crypto market, falls and rises can be very powerful always be careful. As far as the long term trend of Bitcoin, with the greenback looking to retrace lower next year, this area may be suitable to start a long term bullish position, but it is possible to retrace lower than 17k. Overall it is not a bad long term area to buy. The median price of Bitcoin sits near 40000. Currency Index

Ilyas Khan Top1 Markets

交易結束：目標達成