On Friday and over the weekend we saw how indecision in the market was chopping both bulls and bears.
There was a highly confused price action by market participants and we advised not to take any positions during such indecision.
As you can see in the chart, marked in yellow circles, there have been several contradictory and opposite signals only led to a false signal eventually. So its always good to avoid trading Crypto over the weekend!
As we mentioned in our last post, BTC has now moved well above 8300 and now heading towards 9400.
9400 level will be a tough nut to break and therefore we advise to be careful at that level. We remain bearish on BTC (long run view).
Please check the following posts for our long term position on BTC:
Bitcoin-BTC-Update-Bear-Trap
BTC-Warning-Ahead
Bitcoin-BTC-double-top-again
Doom-and-Gloom-Reality-Check
There was a highly confused price action by market participants and we advised not to take any positions during such indecision.
As you can see in the chart, marked in yellow circles, there have been several contradictory and opposite signals only led to a false signal eventually. So its always good to avoid trading Crypto over the weekend!
As we mentioned in our last post, BTC has now moved well above 8300 and now heading towards 9400.
9400 level will be a tough nut to break and therefore we advise to be careful at that level. We remain bearish on BTC (long run view).
Please check the following posts for our long term position on BTC:
Bitcoin-BTC-Update-Bear-Trap
BTC-Warning-Ahead
Bitcoin-BTC-double-top-again
Doom-and-Gloom-Reality-Check