Daily Bitcoin Update - Move lower as expected | ECB Hawkish
Evening all,
Full TA in the video as usual. Some notes:
- Bitcoin clinging on to the lower trendline of the rising wedge we have identified.
- Look for support levels on a breakdown - $16919 is an important level
- The breakdown measure move is around $16374
- If we do break down past $16919 look for a bearish retest and a possible short opportunity
- Daily Indicators - Stoch RSI, RSI and MAC D looking bearish. If the MAC D crosses down we could see some strong movement down from Bitcoin.
- Major stock markets are all down today - SPX, ES1 and Nasdaq (the ones that we follow)
- USDT dominance increasing suggesting that traders are moving back into USDT
- DXY also on the move after testing major support - if the DXY increases, Bitcoin generally decreases
- Keep an eye on your alt positions. With BTCD increasing and BTC decreasing - Alts are getting REKT.
Be patient and stick to your strategy!
Please hit the boost button if you like this update.
Back tomorrow.
Thanks
SIMON BPOI
Full TA in the video as usual. Some notes:
- Bitcoin clinging on to the lower trendline of the rising wedge we have identified.
- Look for support levels on a breakdown - $16919 is an important level
- The breakdown measure move is around $16374
- If we do break down past $16919 look for a bearish retest and a possible short opportunity
- Daily Indicators - Stoch RSI, RSI and MAC D looking bearish. If the MAC D crosses down we could see some strong movement down from Bitcoin.
- Major stock markets are all down today - SPX, ES1 and Nasdaq (the ones that we follow)
- USDT dominance increasing suggesting that traders are moving back into USDT
- DXY also on the move after testing major support - if the DXY increases, Bitcoin generally decreases
- Keep an eye on your alt positions. With BTCD increasing and BTC decreasing - Alts are getting REKT.
Be patient and stick to your strategy!
Please hit the boost button if you like this update.
Back tomorrow.
Thanks
SIMON BPOI
BPOI - CRYPTO TRADING GROUP:
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