Hello traders, here’s a quick market update on BTC:USD on a weekly time-frame.
As you can see the long awaited 6,000 region has been finally filled, if you have followed us for some time you know that we have been covering this since January 2020 even though BTC was being traded at 10,000 at that time.
Looking at the chart you can tell that this weeks candle has plummeted from 8000 straight to the 6000.
Now, 6000 is historically proven to be a level of reversals, however in this scenario we have a trend-line lining just below 5000, and there’s a huge possibility for BTC to tap that level before we start anticipating reversals to the upside
The current market we’re in is not suited for day trading or any margin trading, you should be only looking for an investment opportunity.
Stay tuned to our telegram channel for further updates.
As you can see the long awaited 6,000 region has been finally filled, if you have followed us for some time you know that we have been covering this since January 2020 even though BTC was being traded at 10,000 at that time.
Looking at the chart you can tell that this weeks candle has plummeted from 8000 straight to the 6000.
Now, 6000 is historically proven to be a level of reversals, however in this scenario we have a trend-line lining just below 5000, and there’s a huge possibility for BTC to tap that level before we start anticipating reversals to the upside
The current market we’re in is not suited for day trading or any margin trading, you should be only looking for an investment opportunity.
Stay tuned to our telegram channel for further updates.
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* EDIT * Please do not trade if you are not a professional. Only long term investments should be made.
