Bitcoin is appearing to put in some short term bullish signals, which will often happen after a rapid drop in price action.
Watching for BTC to hold the support level at 26.2k, and climb higher to an initial take profit of 27.5k. If market sentiment is extremely bearish then 27k will not be broken, so this may be a good gauge of how bearish the immediate market is.
A caveat to this is the FOMC news being released in 2 days. That will stir the market and if the take profit hasn’t been hit by then, expect major volatility and be cautious of stop loss placement.
Bitcoin is appearing to put in some short term bullish signals, which will often happen after a rapid drop in price action.
Watching for BTC to hold the support level at 26.2k, and climb higher to an initial take profit of 27.5k. If market sentiment is extremely bearish then 27k will not be broken, so this may be a good gauge of how bearish the immediate market is.
A caveat to this is the FOMC news being released in 2 days. That will stir the market and if the take profit hasn’t been hit by then, expect major volatility and be cautious of stop loss placement.