BTCUSD in a bearish market. Check the point with its rebounding.
BTCUSD has repeatedly checked the resistance of 50SMA.
Without 20SMA supporting line, it is assumed that BTCUSD is out of the current range of $6,620. It will be a great strategy to wait for a chance to buy in the 50% retracement – its potential rebounding. It will have shown a bearish one for a few days.
Advice for your investment
You will be able to turn your position into selling, if the daily candle ends below 20SMA, which is near $6,770. You can maintain the trading until it breaks the 50SMA threshold.
Signals such as candle patterns can help you find a chance to buy between $5,600 and $5,800, a potential rebound.
BTCUSD has repeatedly checked the resistance of 50SMA.
Without 20SMA supporting line, it is assumed that BTCUSD is out of the current range of $6,620. It will be a great strategy to wait for a chance to buy in the 50% retracement – its potential rebounding. It will have shown a bearish one for a few days.
Advice for your investment
You will be able to turn your position into selling, if the daily candle ends below 20SMA, which is near $6,770. You can maintain the trading until it breaks the 50SMA threshold.
Signals such as candle patterns can help you find a chance to buy between $5,600 and $5,800, a potential rebound.
