Bitcoin: Boring Market with No Trade Opportunities
Bitcoin keeps consolidating between 7000.00 and 6500.00 levels. It is a boring market, and it makes other markets boring as well.
But what is good in such market conditions? After consolidation periods, we have breakouts and strong price movements.
We should wait for a breakout above SMA200 and 7000.00 in order to get a bullish signal with the target at 8000.00 resistance.
If the price breaks the local uptrend line and SMA100, it will give us a bearish signal with targets at 5000.00 and 4000.00 support levels.
Now, the market is not good for trading, and it is better to stay away from it. Of course, if you have your own trading plan, follow it!
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
But what is good in such market conditions? After consolidation periods, we have breakouts and strong price movements.
We should wait for a breakout above SMA200 and 7000.00 in order to get a bullish signal with the target at 8000.00 resistance.
If the price breaks the local uptrend line and SMA100, it will give us a bearish signal with targets at 5000.00 and 4000.00 support levels.
Now, the market is not good for trading, and it is better to stay away from it. Of course, if you have your own trading plan, follow it!
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
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