BTCUSD Could Potentially Drop to the Support Level at $8891

BITCOIN CHART PRICE – BTCUSD DAILY

Bitcoin is usually very active during the weekends, and I can confirm this by looking at the bollinger bands, they have started to open up slightly, this usually comes with high volatility,  Relative Strength Index went from 53 to 48 % which gives me another good reason to believe that the price could drop. 

Bitcoin started the week with two consecutive days on gains, but after Tuesday it started to drop consistently currently trading at $9316.71 make sure you keep monitoring the RSI levels, the more it drops the more likely the price could potentially hit $ 8891 if you decide to go short make sure you set your take profit levels at a higher level than 8891 to get ahead of the market, the recommendation as you all know is 80% of the difference between the support and resistance levels.

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.