BTC/USD Update
The market is fighting this trend-line and as of yet, a winner has yet to emerge. If the price remains above 7000 for the next day or so, I would be confident that we will see a rally further north.
While the price dropped to the 6500 zone early this morning, it's looking that the dip was just a quick stop hunt as the market responded with a quick uptick in volume, bringing the price back up to the 7000 zone. However, if the price is suppressed back down to the 6500 zone, validating the downtrend started in Feb., then I will be opening short positions. A move to the 7200 zone will have me opening long positions.
Keep an eye on it! The market is gearing up for its next big move.
Comment on what you think is happening next.
While the price dropped to the 6500 zone early this morning, it's looking that the dip was just a quick stop hunt as the market responded with a quick uptick in volume, bringing the price back up to the 7000 zone. However, if the price is suppressed back down to the 6500 zone, validating the downtrend started in Feb., then I will be opening short positions. A move to the 7200 zone will have me opening long positions.
Keep an eye on it! The market is gearing up for its next big move.
Comment on what you think is happening next.
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