Crypto Trade Academy

Bitcoin Update

So far everything is going according to the plan. Bitcoin support is holding for now at around $6,800. RSI is at value 40 and 50 day MA works as a short term support.

I don’t expect any major moves in the next few days. Bitcoin price will probably oscillate between $6,800 and $7,300. If bitcoin does as anticipated and goes sideways this week, then alts have a chance for a bounce. Don’t expect anything crazy and be contempt with 10 to 20% gains when opening longs on the support.

Unless the ETF approval saves us, my prospects are rather bearish than bullish.  I’m looking forward to open short positions as high as possible or I’ll be forced to do that at key support areas.