Buyers are staying in the range between $ 8,000 and $ 8500 and are preparing the next move.
- Pivotat 8500 USD
- Range between 8000 – 8500 USD.
Bitcoin forms a short-term compression pattern between 8000 and 8500 USD, operators prepare the next move.
Our analysis are entirely done on Binance charts
Bitcoin still evolves in its channel between 8000 and 8500 USD. As long as it does not return to its bearish triangle, the trend remains bullish. The signals are uncertain but remain in favor of buyers, especially in the long run. A fall up to 7800 USD remains possible but we should be restrained by our dynamic support. If we break it down, it will be necessary to re-sell the seller for a new correction. Nevertheless, this scenario seems unlikely at present, buyers still dominate the market.
How to take position?
We will take advantage of range moves between 8000 and 8500 and wait for a break at 7800 USD or 8500 USD to take position on the next major move.
Should we expect a new correction?
It doesn’t seem so. Nevertheless, if we go back under the $ 7800 pivot, we will have to prepare for a short-term correction.
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Key Levels :
- Essentials resistances : 8500 – 9000
- Essentials supports : 8200- 7800
Disclaimer: This blog is only the showcase of my work. I expose to you all my personal analyzes, my personal trades, my personal investment decisions, or the positions that I judge good without taking them myself. We do not offer any investment advice and they are not trading instructions. Nevertheless, you are free to copy my judgments if you judge my work satisfactory.
It is important to note and understand that cryptocurrency trading carries serious risks. You can lose capital and more on some platforms. Take this into account and moderate your investment decisions. Never invest money that you can not afford to lose!
Reminder: The analyzes on the page cover a period of 12 to 48 hours and are optimized for Day Trading and not the long position. We give our long positions on our youtube channel.