BTCUSD Started With a Loss

BTCUSD CHART PRICE – BTCUSD DAILY

After a very good trading day on Monday, gaining over 1,400  USD Bitcoin has started the new trading session with a loss after reaching a high of 11,259.  Today, the price continued to climb until the last hours where it has been very volatile ranging over 1,300 USD in less than 2 hours. The Relative Strength Index is on the 79% level, which at some point yesterday reached 83%, we could expect the price to start falling, however, cryptocurrencies are a different world, Indicators usually do not respond with very high volatility, the next normal thing for the pair to do should be to start getting back down, we see that the RSI is getting lower, but I would stay out of BTCUSD for now unless you want to have a high-risk high reward trade, the 10,000 level is key for BTC, very often when there’s a breakout on 10,000 the pair skyrockets and BTC holders start to buy more of the crypto hoping that it would continue to rise like foam, once those BTC trades start to get rid of them the price will drop but we never know when that could be.

This post does not provide Financial Advice for traders, its merely purpose is education, use all the information available from different Analysts and build your own strategy, trading is not for everyone, you should only trade with money you can afford to lose, past performance is not an indicator of future results.