Bitcoin (XBT/USD - BitMex) - Total Immobility

Bitcoin (XBT/USD - BitMex) - Total Immobility

By milionarioo | DigiNomic | 26 Apr 2020


Supply and demand are perfectly balanced, just higher higher and just below 7600 resistance.
In short, the definition of No Trade Zone.

Until the market decides to take a direction and we remain between these two fires, taking a dry position is quite gambling.

We should also remember that although we are tracking higher highs and higher lows in the daily, we are still in the bear market. Just look at the weekly TF to find out.

In order for the daily movement, which is currently weak and shuffling, to become relevant even at a more macro level, we must break the 8k.
Doing so would mean starting to look for LONGs.

On the contrary, losing the 6.9k would be a SHORT scenario (loss of important support in downtrend ...)

Let's see, and meanwhile tomorrow we will update ourselves, aware of the closure of the Weekly candle!

Happy Sunday everyone!

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