BTC - Long bias swing trade for a few days to a week.
1. Bitcoin has been trending down for some time, but each leg down is becoming less aggressive.
2. Bitcoin is at major support of the $6k level!
3. Bitcoin has bounce at $6k before
4. Bitcoin is starting to curl up a bit on the daily chart right at support
Conclusion :
Though bitcoin can be the future, most people will trade technicals, and right now BTC is telling us we are right on strong support and this is a technical buy indicator. Everytime BTC bounces it tends to put in a lower high or follow its downward trend line. Right now I have a bullish outlook on BTC for the next few days to week. Ideally would like to see BTC go long until its downward trendline.
1. Bitcoin has been trending down for some time, but each leg down is becoming less aggressive.
2. Bitcoin is at major support of the $6k level!
3. Bitcoin has bounce at $6k before
4. Bitcoin is starting to curl up a bit on the daily chart right at support
Conclusion :
Though bitcoin can be the future, most people will trade technicals, and right now BTC is telling us we are right on strong support and this is a technical buy indicator. Everytime BTC bounces it tends to put in a lower high or follow its downward trend line. Right now I have a bullish outlook on BTC for the next few days to week. Ideally would like to see BTC go long until its downward trendline.