Cyrptocurrency
BTCUSD: Are We Done Dropping?From the chart, we see that we breached the longterm trend line. It could be a sign that we are going further down in a few days, or that it was a false break down.
However, typically on the past 2 crashes, we were following with strong buying volume as pointed out by blue arrows. Today there was not much buying volume as i would like.
I wouldn't place any long orders until we are clear above 10k and above our long term trend line.
I will update this idea if i get 5 likes.
BTC, bear trend holdingOverview:
Short-term bear trend in the context of a longer-term bull trend.
Resistance @ 13000-13500
Support @ 10000
Symmetrical triangle (continuation signal) + falling volume.
Inside bar setup w/ false break (blue rectangle)
Keep an eye on which way the price breaks--above or below the triangle and inside bars.
Remember that we are in a bear trend. Trades counter to the trend are certainly possible...just more risky. BTC has a lot to prove before we can say that the bear-trend is no longer in valid.
CFIBTC 1H
Please note that this type of recommendation is not followed up. Set your target and stop your loss yourself. If the analysis agrees with your idea of view (make sure that the analysis agrees with your idea of view, the analysis is not followed)
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