Search This Blog

Wednesday, December 28, 2022

BitCoin Insight

BitCoin Insight

Bitcoin / U.S. dollar BITSTAMP:BTCUSD

Hey, trader. Thank you for comments and boosts.
Today's chart is Bitcoin . Let's check it quickly.

We can see
1. the descending channel .
2. 15500 ~ 18300 box pattern.
3. the resistance on 17000.

We should check
Wednesday - US Pending Home Sales
Thursday - US Initial Jobless Claims, Crude Oil Inventories
Friday - Manufacturing PMI

We can expect
1. downward movement by resistance on 17000.
2. rebounding from 15500.

By descending channel and the middle line of the box pattern, the price is dropping.
As we can see, it is hard to have Long position for now.
For Long position, we will wait till the price reaches 15500.
For Short position, 17000 will be favorable price which I already mentioned to have short position last week.
Let's see if we can keep our short position.

Thank you for reading and hope this insight was helpful.

Analyzed by Han.

Via TradingView Ideas

No comments: