State of Mind 3rd October
New day on the cryptos market!
What is the feeling this morning?
The market has declined since the beginning of the session, as evidenced by the market capitalization, which then stood at $219 billion and now stands at $214 billion.
The Bitcoin is currently evolving just above its support at $6460 after breaking the previous one at $6550. From a technical point of view, the indicators are still rather negative at the 1h horizon except for the WaveTrends which has already crossed upwards.
From a Fibonacci point of view, we see that the 23.6% extension coincides with the next resistance at $6550. If the $6460 holds, BTC could then move on to its next resistance.
Nevertheless, be careful because technical analysis is not an exact science! So don't forget your stop-loss!
What is the feeling this morning?
The market has declined since the beginning of the session, as evidenced by the market capitalization, which then stood at $219 billion and now stands at $214 billion.
The Bitcoin is currently evolving just above its support at $6460 after breaking the previous one at $6550. From a technical point of view, the indicators are still rather negative at the 1h horizon except for the WaveTrends which has already crossed upwards.
From a Fibonacci point of view, we see that the 23.6% extension coincides with the next resistance at $6550. If the $6460 holds, BTC could then move on to its next resistance.
Nevertheless, be careful because technical analysis is not an exact science! So don't forget your stop-loss!
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