04-22-2020, 06:11 AM
BTC Bounces or $6666 Today
<!-- SC_OFF --><div class="md"><p>There are competing trends happening in real-time with <a href="https://www.tradingview.com/symbols/BTCUSD/">BTC </a>. There is a <a href="https://www.tradingview.com/ideas/bearish/">bearish trend</a> pushing <a href="https://www.tradingview.com/symbols/BTCUSD/">BTC </a>down from around $10,000 and a <a href="https://www.tradingview.com/ideas/bullish/">bullish trend</a> building <a href="https://www.tradingview.com/symbols/BTCUSD/">BTC </a>up since it dipped to $3700.</p> <p>However, both trends have almost mimicked stock and equity market movements. It is likely this month sees many bankruptcies, higher unemployment and countries still stuck in quarantine.</p> <p>The macro factors are impacting <a href="https://www.tradingview.com/symbols/BTCUSD/">BTC </a>as much as TA. As you can see <a href="https://www.tradingview.com/symbols/BTCUSD/">BTC </a>corrected the last time it hit the resistance of $6900 and $7000. If it continues to bounce back from $7,000 it is likely the trend down continues.</p> <p>A strong <a href="https://www.tradingview.com/ideas/bullish/">bullish</a> breakout to $7450 will liquidate most shorts so this should not be ruled out. However, most longs around $7100 haven’t been liquidated either. I see a big move from <a href="https://www.tradingview.com/symbols/BTCUSD/">BTC </a>coming.</p> <p>My guess would be a leg down to between $6200-$6400 then a pop into the $7k range again. <a href="https://www.tradingview.com/ideas/volume/">Volume</a> is dropping, price will follow.</p> <p><a href="https://www.tradingview.com/symbols/BTCUSD/">BTC </a>won’t go negative like <a href="https://www.tradingview.com/symbols/COMEX-GC1!/">oil </a>. But it will go South.</p> <p>(Make sure to follow for more charting!)</p> </div><!-- SC_ON --> Kind Regards R
<!-- SC_OFF --><div class="md"><p>There are competing trends happening in real-time with <a href="https://www.tradingview.com/symbols/BTCUSD/">BTC </a>. There is a <a href="https://www.tradingview.com/ideas/bearish/">bearish trend</a> pushing <a href="https://www.tradingview.com/symbols/BTCUSD/">BTC </a>down from around $10,000 and a <a href="https://www.tradingview.com/ideas/bullish/">bullish trend</a> building <a href="https://www.tradingview.com/symbols/BTCUSD/">BTC </a>up since it dipped to $3700.</p> <p>However, both trends have almost mimicked stock and equity market movements. It is likely this month sees many bankruptcies, higher unemployment and countries still stuck in quarantine.</p> <p>The macro factors are impacting <a href="https://www.tradingview.com/symbols/BTCUSD/">BTC </a>as much as TA. As you can see <a href="https://www.tradingview.com/symbols/BTCUSD/">BTC </a>corrected the last time it hit the resistance of $6900 and $7000. If it continues to bounce back from $7,000 it is likely the trend down continues.</p> <p>A strong <a href="https://www.tradingview.com/ideas/bullish/">bullish</a> breakout to $7450 will liquidate most shorts so this should not be ruled out. However, most longs around $7100 haven’t been liquidated either. I see a big move from <a href="https://www.tradingview.com/symbols/BTCUSD/">BTC </a>coming.</p> <p>My guess would be a leg down to between $6200-$6400 then a pop into the $7k range again. <a href="https://www.tradingview.com/ideas/volume/">Volume</a> is dropping, price will follow.</p> <p><a href="https://www.tradingview.com/symbols/BTCUSD/">BTC </a>won’t go negative like <a href="https://www.tradingview.com/symbols/COMEX-GC1!/">oil </a>. But it will go South.</p> <p>(Make sure to follow for more charting!)</p> </div><!-- SC_ON --> Kind Regards R