BTC Update
Bitcoin has dropped since the last update and is currently trading at the 7300 level just above the 7225-7275 range. We see that BTC, after briefly passing above the 7400 level in the previous session, has failed to maintain enough upward momentum to mark a higher high, which is rather unfavorable to a continuation of the upward movement.
From a technical point of view, the daily technical situation remains positive but on a 4-hour horizon, we can see some signs of weakness and indicators in their overbought zone.
In the shorter term, in 1 hour, signs of an increase are visible on the indicators.
What to do?
The lack of convergence between the different time horizons is somewhat confusing. If the 7225 - 7275 zone resists as a support, then we can see Bitcoin retesting 7400 or even the 7600 zone.
If not, the 7000 or even the 6800 will be more and more likely.
As usual, we're waiting for the closing and we stay safe in our trading guys!
Bitcoin has dropped since the last update and is currently trading at the 7300 level just above the 7225-7275 range. We see that BTC, after briefly passing above the 7400 level in the previous session, has failed to maintain enough upward momentum to mark a higher high, which is rather unfavorable to a continuation of the upward movement.
From a technical point of view, the daily technical situation remains positive but on a 4-hour horizon, we can see some signs of weakness and indicators in their overbought zone.
In the shorter term, in 1 hour, signs of an increase are visible on the indicators.
What to do?
The lack of convergence between the different time horizons is somewhat confusing. If the 7225 - 7275 zone resists as a support, then we can see Bitcoin retesting 7400 or even the 7600 zone.
If not, the 7000 or even the 6800 will be more and more likely.
As usual, we're waiting for the closing and we stay safe in our trading guys!
