Trading for BTC today is mainly bear biased due to the following:
1. Tested 9350 level and failed to break.
2. MACD at H4 is bearish .
3. Fib retracement, most likely, hasn't finished yet.
Personally, I think it can go down to 8900-9000 before continuing the uptrend. It is good to mention that BTC is LARGELY bullish; however, price action will dictate more so please keep your stop losses and continue to carefully watch price action.
Thick yellow lines - end of range
Thin yellow lines - minor resistances
Purple arrows - possible movement/scenarios today
Don't bet the whole farm, have a good risk reward ratio. Price action can be really, really different from this post.
Be wary of false breaks! Trading is RISKY, always put stop losses.
Various FACTORS are in play, but this chart is meant to be easy to read.
TRADING IS REACTIVE, NOT PREDICTIVE.
1. Tested 9350 level and failed to break.
2. MACD at H4 is bearish .
3. Fib retracement, most likely, hasn't finished yet.
Personally, I think it can go down to 8900-9000 before continuing the uptrend. It is good to mention that BTC is LARGELY bullish; however, price action will dictate more so please keep your stop losses and continue to carefully watch price action.
Thick yellow lines - end of range
Thin yellow lines - minor resistances
Purple arrows - possible movement/scenarios today
Don't bet the whole farm, have a good risk reward ratio. Price action can be really, really different from this post.
Be wary of false breaks! Trading is RISKY, always put stop losses.
Various FACTORS are in play, but this chart is meant to be easy to read.
TRADING IS REACTIVE, NOT PREDICTIVE.