BTCUSD Entering a Small Downtrend

BTCUSD CHART PRICE – BTCUSD DAILY

Bitcoin lost 1.78% in the previous session and broke the support level at 10,640.95 we have a confirmation of the breakout and now the price could drop a bit more in the short term, the relative strength index dropped 6%, currently at 46% but the bollinger bands are very narrow and that means volatility would be low, the price is about to enter the Ichimoku cloud and that almo means uncertainty in the markets, last time we had narrow Bollinger bands the price took off very aggressively, so all this mixed signals tell me to stay away from the pair for now.

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.