Alright, for these tough times, I want to follow price action movement, on supports and resistances, more than indicators. Price action dictates a lot and so far, it goes for short. 6550 proves to be a strong resistance, and it can never be fully bull unless it exceeds 7300. Let's also keep in mind that virus sentiments run the show for now and the sequence is as follows:
Weakening of economy ---> weakening of USD ----> paradoxical downtrend of BTC
Why?
Weakening of USD should mean uptrend of BTC, by theory, but what really happens is people liquidate because they're going to need fiat more than anything else.
Do your own research, especially in these tough times.
Have a virus-free day.
Weakening of economy ---> weakening of USD ----> paradoxical downtrend of BTC
Why?
Weakening of USD should mean uptrend of BTC, by theory, but what really happens is people liquidate because they're going to need fiat more than anything else.
Do your own research, especially in these tough times.
Have a virus-free day.