Bitcoin looking further Long side scenario level $7,000
XBTUSD Technical Overview:
Trading Range: $6,430 - $6,788
Key Resistance: $6,630 - $6,676 - $6,743 - $6,788- $6,945
Key Support: $6,548 - $6,491 - $6,464 - $6,420 - $6,364
Technical Indicator:
Moving Average: Simple Moving Average 100 ($6,570) & SMA 200 ($6,574) strong support for Bitcoin intraday.
RSI: RSI lacks bearish momentum & strong support at RSI level 44.06, if it will break down than XAUUSD more down and vice-versa.
Technical Trade Idea:
Most Likely Scenario: Long XAUUSD $6,450-$6,485 strong Stop Loss $6,372 & target $6,620 - $6,676 in extension.
Alternative Scenario: Short XAUUSD $6,350-$6,330 Strong Stop Loss $6,482 & target $6,258 - $6,194 in extension.
Overall, The U.S SEC is expected to rule over another ETF proposal on September 30(Today). Bitcoin has been predicted to make a comeback towards the end of this year. Currently, the bulls are alert and are ready to spot all technical signals that will indicate the next swing towards $10,000. Bitcoin has experienced overstretching declines this year from the all-time high close to $20,000 to the current price at $6,756.
In the recent months the tussle between the U.S Securities and Exchange Commission (SEC) and the firms seeking a Bitcoin exchange-traded fund ETF) has done more damage to the deflating crypto. The authority is expected to rule over another ETF proposal on September 30(Today). The SEC rejected the other ETFs on the grounds manipulation among other issues.
Thanks
YoCryptoManic
Trading Range: $6,430 - $6,788
Key Resistance: $6,630 - $6,676 - $6,743 - $6,788- $6,945
Key Support: $6,548 - $6,491 - $6,464 - $6,420 - $6,364
Technical Indicator:
Moving Average: Simple Moving Average 100 ($6,570) & SMA 200 ($6,574) strong support for Bitcoin intraday.
RSI: RSI lacks bearish momentum & strong support at RSI level 44.06, if it will break down than XAUUSD more down and vice-versa.
Technical Trade Idea:
Most Likely Scenario: Long XAUUSD $6,450-$6,485 strong Stop Loss $6,372 & target $6,620 - $6,676 in extension.
Alternative Scenario: Short XAUUSD $6,350-$6,330 Strong Stop Loss $6,482 & target $6,258 - $6,194 in extension.
Overall, The U.S SEC is expected to rule over another ETF proposal on September 30(Today). Bitcoin has been predicted to make a comeback towards the end of this year. Currently, the bulls are alert and are ready to spot all technical signals that will indicate the next swing towards $10,000. Bitcoin has experienced overstretching declines this year from the all-time high close to $20,000 to the current price at $6,756.
In the recent months the tussle between the U.S Securities and Exchange Commission (SEC) and the firms seeking a Bitcoin exchange-traded fund ETF) has done more damage to the deflating crypto. The authority is expected to rule over another ETF proposal on September 30(Today). The SEC rejected the other ETFs on the grounds manipulation among other issues.
Thanks
YoCryptoManic
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