Small price update on Bitcoin as we near the start of a new week. BTC daily chart hasn’t changed much in terms of the support and resistance that we are watching. But we are nearing a price compression area as the recent downtrend market structure is approaching the larger uptrend market structure. This is likely an area of volatility as BTC is surely to put in the next impulse move in the near future.
This should be taken into account with a very high impact news week. Image copied below of the news releasing this Wed-Fri (EST shown in image). These will cause lots of volatility in the market, and in addition to the recent SEC news regarding Coinbase and Binance , it is likely to be a very volatile week so trade safe if you are in positions.
Small price update on Bitcoin as we near the start of a new week. BTC daily chart hasn’t changed much in terms of the support and resistance that we are watching. But we are nearing a price compression area as the recent downtrend market structure is approaching the larger uptrend market structure. This is likely an area of volatility as BTC is surely to put in the next impulse move in the near future.
This should be taken into account with a very high impact news week. Image copied below of the news releasing this Wed-Fri (EST shown in image). These will cause lots of volatility in the market, and in addition to the recent SEC news regarding Coinbase and Binance , it is likely to be a very volatile week so trade safe if you are in positions.