Technical analysis Bitcoin. BTC-USD on June 24, 2018

June 25, 2018


The bears still rule the market, most of the traders wait for the more favorable climate for trading, as the volume is reducing. Most of the alts as well as Bitcoin got a serious fall for the last days and months. The global market is searching for the support, Bitcoin may test 5400 zone, which we mentioned earlier and it does not look like the end bottom now. The fall to this level may cause the panic and we can get a demand shortfall from these levels and the market will become more bearish and will take more time to recover and new impulsive wave formation. There is a possibility of impulsive dumps as the assets can fall rapidly, this is one of the worst scenarios. Now the right decision is to be patient and check your money manager and risk management. In order to have a more positive situation and opportunity to open new successful trades, we need to wait for any confident bullish actions from BTC. Also, we may notice that the major number of alts follow its behavior and are affected by its oscillations.

All the articles