BTC/USD - Are you going up or down?
BTC/USD touched ~$8,000USD/BTC but didn't go through the support range that was discussed in the previous post. The ~$8,000USD/BTC support line worked and the price recovered a bit. The two candles formed a Japanese candle pattern called bullish harami, which can indicate a reversal bullish pattern. Also, another candle completed today is a doji, which indicates the indecisiveness of the market.
So, I would say the market thinks the correction is done but at the same time it doesn't have much confidence to go up again soon without fundamentally good news (like 55 bullish and 45 bearish). This is also shown in the market volume, which is going down these days. The market may test the 50 day moving average again but at the same time it could go down if we hear bad news. We may need big catalysts to determine the market direction.
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Disclaimer : I am not a certified financial advisor. This post is just my personal opinion and not financial advice. Please do your own research and do not trade just based on my posts.
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Yeah, it just takes a lot of time!
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Every thing just rely on thoughts
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