Bitcoin BTCUSD Awaiting Direction 📈📉
Hi Traders
Ev here. Been trading crypto since 2017 and later got into stocks. I have 3 board exams on financial markets and studied economics from a top tier university for a year.
Across the markets, we see many coins on major support zone and trading by their yearly lows. Meanwhile, Hacktivist group Anonymous has vowed to bring Do Kown's crimes to light, founder of Terra and Luna. With inflation at all time highs and gas prices sky-rocketing, talks of recession is whispered in conversation amongst entrepreneurs and businessmen like Elon Musk who has been cutting down staff at Tesla in apparent anticipation of a recession. A monkeypox outbreak is also looming around each corner, and we can't help but wonder if we are heading towards another March 2020.
From the Bitcoin charts, it seems like a dangerous time to call bullish or bearish . The indicators are sending mixed signals across timeframes and the most likely conclusion to come to, is that we may see range trading until the market shows us a clear direction. We closed a green candle in the weekly just underneath key resistance, but the weekly chart technical indicator is also pointing towards range trading in a tight range. For now, it may prove useful to monitor lower timeframes for possible signs of up/down price action, such as the 4h.
What are your thoughts on Bitcoin ?
_________________
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We thank you for your support !
CryptoCheck
Ev here. Been trading crypto since 2017 and later got into stocks. I have 3 board exams on financial markets and studied economics from a top tier university for a year.
Across the markets, we see many coins on major support zone and trading by their yearly lows. Meanwhile, Hacktivist group Anonymous has vowed to bring Do Kown's crimes to light, founder of Terra and Luna. With inflation at all time highs and gas prices sky-rocketing, talks of recession is whispered in conversation amongst entrepreneurs and businessmen like Elon Musk who has been cutting down staff at Tesla in apparent anticipation of a recession. A monkeypox outbreak is also looming around each corner, and we can't help but wonder if we are heading towards another March 2020.
From the Bitcoin charts, it seems like a dangerous time to call bullish or bearish . The indicators are sending mixed signals across timeframes and the most likely conclusion to come to, is that we may see range trading until the market shows us a clear direction. We closed a green candle in the weekly just underneath key resistance, but the weekly chart technical indicator is also pointing towards range trading in a tight range. For now, it may prove useful to monitor lower timeframes for possible signs of up/down price action, such as the 4h.
What are your thoughts on Bitcoin ?
_________________
👀 Follow us here on TradingView for daily updates and trade ideas on crypto , stocks and commodities 💎
👍Hit like & Follow 🔔
We thank you for your support !
CryptoCheck
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SoftQuant Website
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