Bitcoin (XBT/USD - BitMex) - Demand

Bitcoin (XBT/USD - BitMex) - Demand

By milionarioo | DigiNomic | 9 May 2020


First support approached during this small downturn triggered by reaching 10k, and demand is already being presented.
It seems that, for now, there are no big selloff signs, and consequently reasons to open SHORT positions or close any LONG already open.

At the moment any support is a good point to split some small accumulative positions, to take advantage of the current upward trend.
Personally, I would ignore 9500 because too close to the local maximum, but de gustibus.
On the contrary, 9.5k support is excellent for intra-day operations and scalping.

The opposite operation is the opening of a covering SHORT, for those who perhaps already have a LONG position, which, however, I would only evaluate following an evident selloff, or a prolonged lateralization and then a downward course.

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