1 DAY BTC Chart - 6K How Much Longer Can She HOLD?
Hello All,
Today I'm taking a look at the 1 Day chart on BTC. As you can see we are the middle of the range of this really long wedge that has been forming on the daily chart. We have consistently found support at the 6K range give or take 100$ higher or lower, but how much longer do we have before a real choice is made by the markets. Over my trading experience the more we keep tagging a level the weaker it becomes. Given that so many market participants have gone long around this point, we really in my estimation have to throw the book out on where the market can go if it breaks. But that is yet to be seen but we are approaching that scenario again if we cant get a solid bounce soon with some volume backing it up. Currently I'm in NO TRADE MODE as I need to see more information on where this market wants to go. Just stay aware and be careful as we know BTC can choose and move really fast in either direction.
After years of trading I'm finally going to be sharing my thoughts and analysis of the markets on a daily basis.
Please follow me and give me a like as I continue my adventures in the Crypto Markets.
Comments and Discussion are always welcome as the views of the many trump the opinions of the few.
This is my own personal analysis and I do not give financial advice.
Today I'm taking a look at the 1 Day chart on BTC. As you can see we are the middle of the range of this really long wedge that has been forming on the daily chart. We have consistently found support at the 6K range give or take 100$ higher or lower, but how much longer do we have before a real choice is made by the markets. Over my trading experience the more we keep tagging a level the weaker it becomes. Given that so many market participants have gone long around this point, we really in my estimation have to throw the book out on where the market can go if it breaks. But that is yet to be seen but we are approaching that scenario again if we cant get a solid bounce soon with some volume backing it up. Currently I'm in NO TRADE MODE as I need to see more information on where this market wants to go. Just stay aware and be careful as we know BTC can choose and move really fast in either direction.
After years of trading I'm finally going to be sharing my thoughts and analysis of the markets on a daily basis.
Please follow me and give me a like as I continue my adventures in the Crypto Markets.
Comments and Discussion are always welcome as the views of the many trump the opinions of the few.
This is my own personal analysis and I do not give financial advice.
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