G'day, Guys.
Today we gonna have a look at BTCUSD (BITCOIN)
Generally in Daily Time-frame, this pair still stuck within the sideway zone as I mentioned in a previous posting. The sideways zone is between 40,983.65 and 28,972.87
This zone considered as Demand Zone which is there was a possibility that BTCUSD will move higher to create a double top on the previous High. But this with be confirmed once-solid break-out happens above the 41k area. Else this pair most probably heading south to retest a previous low sideways zone at 28,892.87
Zooming into the Hourly time frame what I can see here, the momentum of rally bullish getting weak which is showing a loss of interest for buyers to make another move. As everyone knows BTCUSD is really volatile, which is able to move a wide range if sudden sentiments release or rumors within worldwide markets.
I had marked the market structure which is clearly showing the buying interest getting weaker and weaker. I am expecting the market will be forming this pattern before the big drop.
Let's see what happens next.
Today we gonna have a look at BTCUSD (BITCOIN)
Generally in Daily Time-frame, this pair still stuck within the sideway zone as I mentioned in a previous posting. The sideways zone is between 40,983.65 and 28,972.87
This zone considered as Demand Zone which is there was a possibility that BTCUSD will move higher to create a double top on the previous High. But this with be confirmed once-solid break-out happens above the 41k area. Else this pair most probably heading south to retest a previous low sideways zone at 28,892.87
Zooming into the Hourly time frame what I can see here, the momentum of rally bullish getting weak which is showing a loss of interest for buyers to make another move. As everyone knows BTCUSD is really volatile, which is able to move a wide range if sudden sentiments release or rumors within worldwide markets.
I had marked the market structure which is clearly showing the buying interest getting weaker and weaker. I am expecting the market will be forming this pattern before the big drop.
Let's see what happens next.
