- BTC/USD is trading 3.30% lower today as sentiment weakens across the board.
- The BTC/USD price is heading toward some key support levels.
On the hourly chart below it seems that price is heading toward the support levels below price.
8,082.48 has been used a few times and seems to be acting like a pivot zone.
The relative strength index (RSI) has shown a bearish sign after the trednline broke to the downside.
Below the 8,082.48 zone the psychological 8k level lies in wait and beyond that 7,700.00 could be the next support area.
The price action seems to be bearish as one lower high and two lower lows have been created but as the US traders come to market lets see if the bearishness can continue.
All information and content on this website, from this website or from FX daily ltd. should be viewed as educational only. Although the author, FX daily ltd. and its contributors believe the information and contents to be accurate, we neither guarantee their accuracy nor assume any liability for errors. The concepts and methods introduced should be used to stimulate intelligent trading decisions. Any mention of profits should be considered hypothetical and may not reflect slippage, liquidity and fees in live trading. Unless otherwise stated, all illustrations are made with the benefit of hindsight. There is risk of loss as well as profit in trading. It should not be presumed that the methods presented on this website or from material obtained from this website in any manner will be profitable or that they will not result in losses. Past performance is not a guarantee of future results. It is the responsibility of each trader to determine their own financial suitability. FX daily ltd. cannot be held responsible for any direct or indirect loss incurred by applying any of the information obtained here. Futures, forex, equities and options trading contains substantial risk, is not for every trader, and only risk capital should be used. Any form of trading, including forex, options, hedging and spreads, contains risk. Past performance is not indicative of future FX daily ltd. are not Registered Financial Investment Advisors, securities brokers-dealers or brokers of the U.S. Securities and Exchange Commission or with any state securities regulatory authority OR UK FCA. We recommend consulting with a registered investment advisor, broker-dealer, and/or financial advisor. If you choose to invest, with or without seeking advice, then any consequences resulting from your investments are your sole responsibility FX daily ltd. does not assume responsibility for any profits or losses in any stocks, options, futures or trading strategy mentioned on the website, newsletter, online trading room or trading classes. All information should be taken as educational purposes only.
Recommended Content
Editors’ Picks
Trust Wallet with over 100 million users back on Google Play Store after temporary removal
Trust Wallet is a non-custodial software wallet that allows traders to send, receive, exchange and hold digital assets. Users can hold cryptocurrencies and NFTs in their Trust Wallets. The wallet disclosed its removal from Google’s application store, Play Store, early on Monday.
Maker loses 9% in past 24 hours as whales sell MKR for profits
Maker (MKR) wiped out 9% of its value in the past 24 hours. Data from crypto intelligence tracker Santiment shows that large wallet investors are taking profit on their MKR holdings, likely driving down the asset’s price.
Week Ahead: Bitcoin could surprise investors this week Premium
Two main macroeconomic events this week could attempt to sway the crypto markets. Bitcoin, which showed strength last week, has slipped into a short-term consolidation. However, a shift in momentum could soon bring forth a momentary rally for BTC and altcoins.
XRP slides to $0.50 as ETHgate controversy resurfaces, Ripple CTO debates impact on litigation
Ripple (XRP) loses all gains from the past seven days, trading at $0.50 early on Monday. XRP holders have their eyes peeled for the Securities and Exchange Commission (SEC) filing of opposition brief to Ripple’s motion to strike expert testimony.
Bitcoin: BTC’s next breakout could propel it to $80,000 Premium
Bitcoin’s (BTC) recent price consolidation could be nearing its end as technical indicators and on-chain metrics suggest a potential upward breakout. However, this move would not be straightforward and could punish impatient investors.