Pivot point is at 8596. Below the Pivot point, there is a bearish scenario, above a bullish one. Fluctuating around Pivot point means an undecided scenario and a sideways movement.
The price of Bitcoin has no direction right now. Already for the whole day, it is fluctuating around support S1 level. I expect this to continue for a while. Maybe in the evening that we see a move in either direction.
I stay away from trading today.
The price of Bitcoin has no direction right now. Already for the whole day, it is fluctuating around support S1 level. I expect this to continue for a while. Maybe in the evening that we see a move in either direction.
I stay away from trading today.
הערה:
BTCUSD is heading towards Point A and will be testing the brown dashed trendline again. Does the upmove have enough momentum for crossing that trendline sustainably? This would lead to a new trend, either an uptrend or a sideways movement. Beware of a possible bull trap.
However, what I expect is that BTCUSD will bounce on that trendline and thereafter lose value rapidly. The next important down targets are 6000 and 5511.
However, what I expect is that BTCUSD will bounce on that trendline and thereafter lose value rapidly. The next important down targets are 6000 and 5511.
The price is heading North right now towards Pivot point. The question is: Will it bounce at Pivot point or will it head towards the brown, dashed trendline and test it again?