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Monday, August 24, 2020

$BTC 2020-AUG-25

$BTC 2020-AUG-25


BTCUSD is back in ranging mode, with no clear sentiment on either side of the market.

Price is currently rallying up from the low point in it's RSI cycle; which coincided with both the lower bound of the rising trend and the lower bound of the horizontal range. It's currently unclear whether we continue to move sideways or the longer term rising trend will be held to. Currently, I wouldn't be looking to play the rising trend until a break of the horizontal resistance is complete as the Risk/Reward is unfavorable in the event of a breakdown of the channel.

Volume has maintained some increased density compared to prior to the end of July parabolic movement - so that is good news for the future.


from Trading Ideas
via gqrds

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