BTC/USDT- Daily (65% chance for more downside)
Diupdate
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We will be covering technical analysis in conjunction with fundamental analysis into Major Currencies and Crypto-Currencies!
So let's take a look at our Number 1 Digital Currency: Bitcoin
BTC/USDT
TA Wise:
On the daily chart, we are facing a tremendous challenge with the effects of death cross between SMA50 & SMA200.
The major resistance as shown on the daily chart would be between: $7747 to $8266 that took place between 24th September to 23rd October 2019.
If we break down from our trend line at $7300, we may see the next support at $7027 and $6660.
FA Wise:
Furthermore, as we move closer to the December holiday period where buying volume is thin, we may not see large upward movement on Bitcoin prices.
Follow us at Twitter @SurgeInsider or join our telegram channel at t.me/surgeinsider
(Disclaimer: This is non-financial advice, any past performance, projection, forecast or simulation of results is not necessarily indicative of the future or likely performance of any investment.)
Follow us at Twitter @SurgeInsider or join our telegram channel at t.me/surgeinsider
We will be covering technical analysis in conjunction with fundamental analysis into Major Currencies and Crypto-Currencies!
So let's take a look at our Number 1 Digital Currency: Bitcoin
BTC/USDT
TA Wise:
On the daily chart, we are facing a tremendous challenge with the effects of death cross between SMA50 & SMA200.
The major resistance as shown on the daily chart would be between: $7747 to $8266 that took place between 24th September to 23rd October 2019.
If we break down from our trend line at $7300, we may see the next support at $7027 and $6660.
FA Wise:
Furthermore, as we move closer to the December holiday period where buying volume is thin, we may not see large upward movement on Bitcoin prices.
Follow us at Twitter @SurgeInsider or join our telegram channel at t.me/surgeinsider
(Disclaimer: This is non-financial advice, any past performance, projection, forecast or simulation of results is not necessarily indicative of the future or likely performance of any investment.)
Catatan
The Short squeeze that took place about 12 hours ago happened within 10minutes. Many short positions were liquidated. Even after the prices went up, we see an immediate sell down of BTC. And we are back where we started. Makes you wonder who are the ones fuelling this pumps and dumps?
Levels remains unchanged and we will either be ranging from here or we will dip below $7000 level. Funny how the chart is moving in the direction of my arrow.
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