BTC is currently in it’s mid-range price zone and moving very close in between MA100 and MA200. The 10k area has always been acting like a magnet – a big round number that people always have in mind and we are getting closer to it again. There is no need to guess what the price will be in the future because no one knows. The best thing is allow the price to dictate the next steps for itself. In this case it is very simple 2 scenarios – Either we break 9500 and MA100 which would pop btc again above 10k. Or we have a scenario where MA200 does not hold and we come back to test major resistance of ~7800. Don’t chase the trades while we are in this range – when BTC decides which direction to go then I am looking for opportunity to enter a trade. Currently market sentiment is so I would say that first scenario has bigger possibility to play out. But let’s see how it goes.
Published at Thu, 07 Nov 2019 09:16:08 +0000