Daily analysis XBT/USD 008
Hello everyone.
We are still trending in an ascending cchannel on the hourly chart, the week-end was calm and things will propably start to make more sense over the course of this day.
For now we have our daily low at $7088 and it might get lower, maybe down to the lower part of the ascending channel.
We still have high selling pressure and it seems that the ''Stimulus'' injection didn't help this much .
Possible outcomes for the day
Pesimistic outcome of the day:
Small drop to the $6900 and rebound to either the gravity line or the mean value of the channel. Don't expect huge pumps these days except if we have major news coming.
Optimistic outcome of the day:
We are trading above the descending trendline that was created over the last weeks, this is a positive sign , the fact that it wasn't just a peek above and that it holds indicates that the market is positive and that we will go on to the next levels of resistance at at least $7329. The EMA's are looking good for now, the volume is low, this might mean that we're preparing for a step up (or down) from current levels.
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We are still trending in an ascending cchannel on the hourly chart, the week-end was calm and things will propably start to make more sense over the course of this day.
For now we have our daily low at $7088 and it might get lower, maybe down to the lower part of the ascending channel.
We still have high selling pressure and it seems that the ''Stimulus'' injection didn't help this much .
Possible outcomes for the day
Pesimistic outcome of the day:
Small drop to the $6900 and rebound to either the gravity line or the mean value of the channel. Don't expect huge pumps these days except if we have major news coming.
Optimistic outcome of the day:
We are trading above the descending trendline that was created over the last weeks, this is a positive sign , the fact that it wasn't just a peek above and that it holds indicates that the market is positive and that we will go on to the next levels of resistance at at least $7329. The EMA's are looking good for now, the volume is low, this might mean that we're preparing for a step up (or down) from current levels.
Follow us on live stream on Twitch for real time analysis and trading tools : https://www.twitch.tv/bitwolf_capital
Bitwolf Capital hedge fund : https://bitwolfcapital.com/
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