Welcome fellow humans.
Cryptocurrency & BTC are in an interesting state, all markets are currently in limbo with WW3 on the brink. I like to invest at times when people are fearful, and sell when people are greedy, however this is easier said than done.
Bitcoin is currently showing some signs of strength for the short term, we've had some significant bounces off important moving averages across the shorter time frames (1hr/4hr). However these indicators are not enough to have an overall bullish sentiment over longer time frames. If btc continues to test the resistance point we should see an increase in price action very soon.
KEY RESISTANCE POINT - $39,910
SUPPORT - $34,150
Another factor is the current levels of USDT.D - this is currently finding some resistance, with numerous other indications its about to become bearish. (Traditionally when this happens, BTC & Altcoins). If you're not familiar with this chart, there are multiple youtube explanations to assist.
I'll continue to assess multiple number of charts (TOTAL, BTC.D, USDT.T ect ect) before enterting any long trades whether it be on BTC or any Altcoin.
This is my first idea posted on TradingView, I hope it helped. Feel free to comment below with any feedback, like, follow.
Think before you act and trade safe 😊
Cryptocurrency & BTC are in an interesting state, all markets are currently in limbo with WW3 on the brink. I like to invest at times when people are fearful, and sell when people are greedy, however this is easier said than done.
Bitcoin is currently showing some signs of strength for the short term, we've had some significant bounces off important moving averages across the shorter time frames (1hr/4hr). However these indicators are not enough to have an overall bullish sentiment over longer time frames. If btc continues to test the resistance point we should see an increase in price action very soon.
KEY RESISTANCE POINT - $39,910
SUPPORT - $34,150
Another factor is the current levels of USDT.D - this is currently finding some resistance, with numerous other indications its about to become bearish. (Traditionally when this happens, BTC & Altcoins). If you're not familiar with this chart, there are multiple youtube explanations to assist.
I'll continue to assess multiple number of charts (TOTAL, BTC.D, USDT.T ect ect) before enterting any long trades whether it be on BTC or any Altcoin.
This is my first idea posted on TradingView, I hope it helped. Feel free to comment below with any feedback, like, follow.
Think before you act and trade safe 😊
