$BTC is battling around $80K — this is what I'm watching. $BITCOIN has recently breached $80,000 but dropped back below the price as many traders exited their positions.
This is an important psychological level,
i.e., $80K is important.
With volume reaping, if BTC can recover and remain above it the market could have a lot more faith in the next move.
However, if BTC continues to fall short of this level, we may witness:
📉 Short-term profit taking
📉 A deeper correction
📉 Altcoins losing momentum
I personally don't believe that the smartest thing to do is blindly follow green candles. The more pertinent question is:
Once price has reached resistance, what happens to the price?
That's where the real information lies. Bullish? 🐂
Bearish? 🐻
Share your BTC goals for September.
#BTC☀ #Bitcoin #CryptoTradingInsights #BinanceSquare #CryptoMarkets
This is an important psychological level,
i.e., $80K is important.
With volume reaping, if BTC can recover and remain above it the market could have a lot more faith in the next move.
However, if BTC continues to fall short of this level, we may witness:
📉 Short-term profit taking
📉 A deeper correction
📉 Altcoins losing momentum
I personally don't believe that the smartest thing to do is blindly follow green candles. The more pertinent question is:
Once price has reached resistance, what happens to the price?
That's where the real information lies. Bullish? 🐂
Bearish? 🐻
Share your BTC goals for September.
#BTC☀ #Bitcoin #CryptoTradingInsights #BinanceSquare #CryptoMarkets
