Good morning everyone,
Here is a quick weekend update on the market condition.
To be honest, this is currently the last chance for the market to make a small push. Otherwise, if we get a single daily close below $75,000, we are on track for further downsides.
To get a better idea of Bitcoin's direction, we can look at the altcoin charts. Unfortunately, their charts don't look good at all right now, signaling that we are about to break through their support levels. Additionally, we have a Head and Shoulders pattern forming in the process, which might lead to a small temporary pump first.
Looking at Ethereum, the $2,275 support level was also slightly broken (take a look at the daily chart).
As for Gold, a daily close below $4,000 will lead us down to $3,750.
Here is a quick weekend update on the market condition.
To be honest, this is currently the last chance for the market to make a small push. Otherwise, if we get a single daily close below $75,000, we are on track for further downsides.
To get a better idea of Bitcoin's direction, we can look at the altcoin charts. Unfortunately, their charts don't look good at all right now, signaling that we are about to break through their support levels. Additionally, we have a Head and Shoulders pattern forming in the process, which might lead to a small temporary pump first.
Looking at Ethereum, the $2,275 support level was also slightly broken (take a look at the daily chart).
As for Gold, a daily close below $4,000 will lead us down to $3,750.