BitcoinLong
Bitcoin 7300 re-test
I see a lot of panic today. Most authors are predicting doomsday predictions and calling new lows (because of the OIL).
But I think that Bitcoin won't follow the oil. Correlation broke a while ago and Bitcoin recovered from the covid free fall pretty fast meanwhile oil is still testing new lows and breaking 20 years+ supports.
So the bigger picture? I don't have it yet. Pretty much swing trade zone. Up to resistance, down to support and losts of sideways movements in between.
Which is good if you learn how to trade in this time of uncertanty, doubt.
If you open bigger bitcoin exchanges you can clearly see which levels are supported with instant buy executions and where are the sell zones.
But I think that Bitcoin won't follow the oil. Correlation broke a while ago and Bitcoin recovered from the covid free fall pretty fast meanwhile oil is still testing new lows and breaking 20 years+ supports.
So the bigger picture? I don't have it yet. Pretty much swing trade zone. Up to resistance, down to support and losts of sideways movements in between.
Which is good if you learn how to trade in this time of uncertanty, doubt.
If you open bigger bitcoin exchanges you can clearly see which levels are supported with instant buy executions and where are the sell zones.
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