The market are steadily trending downward, as expected, the price dropped below the confirmation line, and it is making choppy downside progress. So if you're currently trying to decide how to weight your portfolio, a big consideration is what you believe the BTC will do. I believe the Bitcoin will resume its upward thrust, but the question is WHEN.
While it's difficult to say how much further we might go, let's recognize that the second half of September and start of October has a bearish history and starting it off with a short-term break of price support. The primary thing I'll look for today is a response by the bulls. Can we climb back above that $6500 level or does it become a target for more selling to kick in?
I'm not a short trader, so at this market I haven't any positions.
GL Traders.
While it's difficult to say how much further we might go, let's recognize that the second half of September and start of October has a bearish history and starting it off with a short-term break of price support. The primary thing I'll look for today is a response by the bulls. Can we climb back above that $6500 level or does it become a target for more selling to kick in?
I'm not a short trader, so at this market I haven't any positions.
GL Traders.
