A Potential Sigh of Relief for Bitcoin? | BTC/USD
Historically, BTC blasted out of trend resistance following what seems to be a strong 'Bullish Divergence' on the RSI... presently, we are seeing a similar setup!
Amidst all the negativity in the markets, if BTC were to break out here, it would most likely be a relief rally before the next leg down.
We await the Core PCE Price Index announcement at 12:30 PM (GMT) (10:30PM Sydney, Australia Time) tonight to hopefully provide us with the next shift in sentiment.
Entry Levels are generally best taken at the breakout/retest of trend resistance.
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“Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. easyMarkets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based o n a recommendation, forecast or any information supplied by any third-party."
Amidst all the negativity in the markets, if BTC were to break out here, it would most likely be a relief rally before the next leg down.
We await the Core PCE Price Index announcement at 12:30 PM (GMT) (10:30PM Sydney, Australia Time) tonight to hopefully provide us with the next shift in sentiment.
Entry Levels are generally best taken at the breakout/retest of trend resistance.
easyMarkets Account on TradingView allows you to combine easyMarkets industry leading conditions, regulated trading and tight fixed spreads with TradingView's powerful social network for traders, advanced charting and analytics. Access no slippage on limit orders, tight fixed spreads, negative balance protection, no hidden fees or commission, and seamless integration.
“Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. easyMarkets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based o n a recommendation, forecast or any information supplied by any third-party."
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