BTCUSD Plunges, Potential Recovery During the Weekend

BTCUSD CHART PRICE – BTCUSD DAILY

Bitcoin lost 10.78% in a single session, since the crypto uptrend started we had not seen this kind of loses, in fact the last time Bitcoin lost more than 10% in a session was back in March when it took a 38% dive, however the conditions are aligning for its recovery, it currently has gained 3% in the session breaking the resistance at 10,202 and getting very close to the new resistance at 10,638 the relative strength index fell to 33% and is now at 38% in just a few hours, the price is entering the Ichimoku cloud, which can be seen as uncertainty and the moving averages are extremely close to a cross indicating a downtrend could continue, however it is mostly affected by the most recent loss and there could be a reversal of this potential cross.

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.