Hello Traders,
Due to high demand, I want to have a relook at Bitcoin.
Well, I need to say that the forecasted bounce here:
was not coming. So that is how it is sometimes. Cant be 100% right.
Anyway, lets have a look now. I still see more downside in bitcoin to follow. Ideally, it should retest the important resistance level of the last lows 6590 levels.
That would also be the rising triangle trendline plus the 100% extension levels from the peak.
I still have been watching closely the GBTC which is the Bitcoin Investment Trust. And it has also more room to the downside at this moment. So when it starts moving lower it should put pressure on bitcoin as well.
Let's see!
I am very much open to see and hear your opinion. If you want you can comment down below. I would appreciate it :-)
Disclaimer: Trading is about going with the highest probability, nobody is 100% right and we need to protect ourself in case we are wrong. That is why we need to always use a stop-loss when trading. Trade with care. This my current view, and any view present is not a trading recommendation just personal view.
Due to high demand, I want to have a relook at Bitcoin.
Well, I need to say that the forecasted bounce here:
Anyway, lets have a look now. I still see more downside in bitcoin to follow. Ideally, it should retest the important resistance level of the last lows 6590 levels.
That would also be the rising triangle trendline plus the 100% extension levels from the peak.
I still have been watching closely the GBTC which is the Bitcoin Investment Trust. And it has also more room to the downside at this moment. So when it starts moving lower it should put pressure on bitcoin as well.
Let's see!
I am very much open to see and hear your opinion. If you want you can comment down below. I would appreciate it :-)
Disclaimer: Trading is about going with the highest probability, nobody is 100% right and we need to protect ourself in case we are wrong. That is why we need to always use a stop-loss when trading. Trade with care. This my current view, and any view present is not a trading recommendation just personal view.