BTCUSD Moving Sideways

BTCUSD CHART PRICE – BTCUSD DAILY

Bitcoin has been trading inside a range and sideways for the last 5 trading sessions, we see that it found a strong support level at 10,638 today it is up 0.71% and there is some potential for an uptrend but we need to be patient and buy at the right time, for now the market seems undecided, the bollinger bands are shrinking which indicates a lower volatility, the price trades inside the ichimoku cloud which is a sign of market uncertainty, and the relative strength index is at a very neutral position at 50%, the price could start moving either way once we get that high volatility back which is a signature element on bitcoin, we see that the moving averages are closer to a cross that indicates a downtrend, but that could change once the big losing candles are out of the moving average calculation. We would keep an eye on this pair but for now we are unsure about the expected movements.

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.