Well the BTCUSD bears and bulls are slugging it out between 6800 and 7200. 24h volumes are up three-fold on 24 hours ago, and no surprise.
Following on from yesterday's post (see link), IOTUSD is holding well for now, getting wedged between the minor resistance line from the 15 min chart (not drawn) and the recent support given by the lows of a few weeks ago around 1.04.
The Death Cross is forming, and chances of continuing down are good. I'm still expecting to see us arrive in the low 0.9 area, and do think we'll have a chance for a run back up from there before another turn. That being said: BTCUSD is looking weak, and even as IOTBTC is breaking out of its downward chanel, I would want some reassurance before building a long (this is a death cross forming - not the best time to throw caution to the wind!).
Thoughts/counter arguments welcome. And of course, this is not a recommendation - just my view.
Happy hunting!
mr_bump
Following on from yesterday's post (see link), IOTUSD is holding well for now, getting wedged between the minor resistance line from the 15 min chart (not drawn) and the recent support given by the lows of a few weeks ago around 1.04.
The Death Cross is forming, and chances of continuing down are good. I'm still expecting to see us arrive in the low 0.9 area, and do think we'll have a chance for a run back up from there before another turn. That being said: BTCUSD is looking weak, and even as IOTBTC is breaking out of its downward chanel, I would want some reassurance before building a long (this is a death cross forming - not the best time to throw caution to the wind!).
Thoughts/counter arguments welcome. And of course, this is not a recommendation - just my view.
Happy hunting!
mr_bump
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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.