BTC Feeling Pressure
BTC, as noted a few days ago, had a rapid move to the upside and needed to find and make some support. The issue with these violent not organic moves sometimes is that we don't get proper fresh resistance and support levels in the market like we should be getting.
BTC really failed to crack that $10,500 level and is back down now sub 10k. I would be looking to get a strong daily close above 10k and then a weekly close to follow somewhere north of $10,500 to see us move any higher. My mindset for the long and medium-term still is long, however I would be cautious of possible shorts being put into play around this level.
Be mindful of where you're trading as well....we saw some Bitmex pairs get spiked down looking for liquidity a few days ago.
BTC really failed to crack that $10,500 level and is back down now sub 10k. I would be looking to get a strong daily close above 10k and then a weekly close to follow somewhere north of $10,500 to see us move any higher. My mindset for the long and medium-term still is long, however I would be cautious of possible shorts being put into play around this level.
Be mindful of where you're trading as well....we saw some Bitmex pairs get spiked down looking for liquidity a few days ago.
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