BTCUSD Trading Analysis

Ben Hooda Best Online Bitcoin Brokers

Last time I wrote about Bitcoin, the price was at around 7,000. As our team was expecting, it managed to bounce back and went up to almost 12,000.

BTCUSD Trading Analysis

Today, we are looking at the Bitcoin price again. What our team is seeing are two options.

Option 1:

Price forms a price action candlestick pattern just below 9500 and then it shoots back up to the 12,000 level.

Option 2:

Price breaks below the 9500 level and continues falling down to the 6,000 area. Then, depending on price action goes higher or breaks even lower.

It is hard to say where price will go. But if you have already taken our professional trading course, you will know what we are looking for to place a trade.

Happy Trading,

BBB

Author

Ben Hooda

Best Online Bitcoin Brokers

I have worked as a prop trader in two of the leading prop trading houses in London. Currently an avid crypto trader, blogger and a mentor. Helping others achieve their goals is one of my top priorities!

EUR/USD holds near 1.1900 ahead of US data

EUR/USD struggles to build on Monday's gains and fluctuates near 1.1900 on Tuesday. Markets turn cautious, lifting the haven demand for the US Dollar ahead of the release of key US economic data, including Retail Sales and ADP Employment Change 4-week average.

GBP/USD declines toward 1.3650 on renewed USD strength

GBP/USD stays on the back foot and declines to the 1.3650 region on Tuesday. The negative shift seen in risk mood helps the US Dollar (USD) gather strength and makes it difficult for the pair to find a foothold. The immediate focus is now on the US Retail Sales data.

Gold stabilizes above $5,000 ahead of US data

Gold enters a consolidation phase after posting strong gains on Monday but stays above the $5,000 psychological mark and the daily swing low. US Treasury bond yields continue to edge lower on news of Chinese regulators advising financial institutions to curb holdings of US Treasuries, helping XAU/USD hold its its ground.

Bitcoin Cash trades lower, risks dead-cat bounce amid bearish signals

Bitcoin Cash trades in the red below $522 at the time of writing on Tuesday, after multiple rejections at key resistance. BCH’s derivatives and on-chain indicators point to growing bearish sentiment and raise the risk of a dead-cat bounce toward lower support levels.

Dollar drops and stocks rally: The week of reckoning for US economic data

Following a sizeable move lower in US technology Stocks last week, we have witnessed a meaningful recovery unfold. The USD Index is in a concerning position; the monthly price continues to hold the south channel support.

Bitcoin Cash trades lower, risks dead-cat bounce amid bearish signals

Bitcoin Cash (BCH) trades in the red below $522 at the time of writing on Tuesday, after multiple rejections at key resistance. BCH’s derivatives and on-chain indicators point to growing bearish sentiment and raise the risk of a dead-cat bounce toward lower support levels.