We lost support on the channel we were in, the 38 fib level and the value range we were in. Russia news spooked markets today. I am looking for that price volume gap to fill before we see some upside. Probably a consolidation in this range between the $38k and $41k.
Further downside is possible depending on how events play out in the coming days/weeks. All building towards the March news and how the US Government approaches tapering.
Bottom line - trade safely, if Russia tension alleviate we could see more upside, otherwise the convergence of macroeconomic and geopolitcal issues will weight markets down.
Further downside is possible depending on how events play out in the coming days/weeks. All building towards the March news and how the US Government approaches tapering.
Bottom line - trade safely, if Russia tension alleviate we could see more upside, otherwise the convergence of macroeconomic and geopolitcal issues will weight markets down.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.