Volatility Expected in BTCMXN

BTCMXN CHART PRICE – BTCMXN DAILY

Long and Short term Moving Averages are about to cross, indicating that a drop in the price can be expected however we can find a support level at 204713.60, on the 0.236 level on the Fibonacci Retracement,  Bitcoin Mexican peso is currently trading at 20,9050.66, RSI is at 49% which indicates that the price could go either way, we would need to wait and see if the price can break that support level, if it doesn’t breakout then we anticipate that the price could continue its overall uptrend since the pair is currently traded above the Ichimoku cloud, Bollinger bands are getting wider and volatility is expected, we should have a breakout confirmation or a support confirmation in the next few hours, based on that we would make the decision of going Long or going Short.

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.