BTCUSDT Time to pick a side, Long or Short?
【Bitcoin Market Analysis】
The market remained shocked. Overall, the shorts was more weakened than before. The support at $8,500 worked in the BTC market. We should notice that now a dead cross showed up as the MA5 and MA60 crossed, and with the factor that it is also the $9,000 mark, it would be hard for BTC to recover the $9,000 mark.
In the short term, the BTC market will continue an adjustment from $8,500 to $9,000. But the situation above will not last for a long time. A new candlestick will be updated tomorrow, the market is likely to tip the current balance. For sound investors, being patient until the price rise back to $9,000 is available, but if you are an aggressive investor, long after $8,800 broken in the short term is acceptable.
The market remained shocked. Overall, the shorts was more weakened than before. The support at $8,500 worked in the BTC market. We should notice that now a dead cross showed up as the MA5 and MA60 crossed, and with the factor that it is also the $9,000 mark, it would be hard for BTC to recover the $9,000 mark.
In the short term, the BTC market will continue an adjustment from $8,500 to $9,000. But the situation above will not last for a long time. A new candlestick will be updated tomorrow, the market is likely to tip the current balance. For sound investors, being patient until the price rise back to $9,000 is available, but if you are an aggressive investor, long after $8,800 broken in the short term is acceptable.
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