BTC/USD - Live Update
What's up traders, I hope you're all having a wonderful weekend.
Bitcoin has been dramatic lately - and hasn't been much fun for anyone who doesn't understand how Cryptocurrency works. Please make sure you have trading experience, trading knowledge, and a good trading strategy with already establish rules before trading! I get around 15-20 messages a week to my Telegram account with people telling me they've blown their trading account. Don't be one of these people. Just take it slowly, and the profits will surely follow.
Anyway, I'm glad to be your one stop shop for accurate and reliable Cryptocurrency analysis! We have done well recently, including perfectly predicting Bitcoin's entire move, making a significant profit!
Swiftly moving on, let's analyze BTC/USD on the 1D chart.
Bitcoin broke the side-wards resistance level on 6th June at 7590, and since then has has a gentle correction to test the side-wards resistance as support. Although price has some upside momentum after the bounce on the side-wards support, it's important to remember that we're still at the 20 moving average resistance. These averages suggest the trend is still down, so we need to be mindful of this before immediately assuming to take a long position.
Price will likely fall to between 7030 and 6100 (The boundaries of all localized structure) before the down move. BUT, there could be some very temporary upside. The upside can only become more permanent if price breaks the 20 moving average and retests it as support. This is the only condition that negates a lower retest condition.
I will update this analysis when I receive above 40 likes.
Bitcoin has been dramatic lately - and hasn't been much fun for anyone who doesn't understand how Cryptocurrency works. Please make sure you have trading experience, trading knowledge, and a good trading strategy with already establish rules before trading! I get around 15-20 messages a week to my Telegram account with people telling me they've blown their trading account. Don't be one of these people. Just take it slowly, and the profits will surely follow.
Anyway, I'm glad to be your one stop shop for accurate and reliable Cryptocurrency analysis! We have done well recently, including perfectly predicting Bitcoin's entire move, making a significant profit!
Swiftly moving on, let's analyze BTC/USD on the 1D chart.
Bitcoin broke the side-wards resistance level on 6th June at 7590, and since then has has a gentle correction to test the side-wards resistance as support. Although price has some upside momentum after the bounce on the side-wards support, it's important to remember that we're still at the 20 moving average resistance. These averages suggest the trend is still down, so we need to be mindful of this before immediately assuming to take a long position.
Price will likely fall to between 7030 and 6100 (The boundaries of all localized structure) before the down move. BUT, there could be some very temporary upside. The upside can only become more permanent if price breaks the 20 moving average and retests it as support. This is the only condition that negates a lower retest condition.
I will update this analysis when I receive above 40 likes.
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