BTCUSD Slows Down After Reaching Resistance

BTCUSD CHART PRICE – BTCUSD DAILY

Bitcoin had a busy previous session that ended with the pair price pretty much were it left off the previous day, in today’s session we see that the pair is less active as the bollinger bands are getting closer to each other, indicating a lower volatility, however this is a cryptocurrency and volatility is always to be expected, the price trades inside the ichimoku cloud which can be seen an uncertainty and the price could move sideways during the session, if the pair is able to break the resistance at 11,076 we could expect the uptrend to continue for the short term, remember that cryptos trade during the weekend and sometimes that’s when they have the most volatility, I would not recommend opening a trade now since most forex brokers do not allow trading during the weekend even tho the crypto market is still in session, we could see a big gap during reopening.

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.