Bitcoin is approaching a local resistance. what do we do?
a lot of cryptocurrencies are having a nice rally right now. it seems like a broader crypto rally. some of the alt coins have been doing especially well over the past 24 hours like one of my favorites to swing trade on occasion $ETC(ETC.CC$
if you are thinking about investing in these cryptos then personally I would wait until Bitcoin reaches the resistance level mentioned below. after we see what Bitcoin does at this price level then we decide if we should enter into an investment with some of these cryptocurrencies. you must not buy on the highs. especially with volatile cryptocurrencies. be very patient
if you are thinking about investing in these cryptos then personally I would wait until Bitcoin reaches the resistance level mentioned below. after we see what Bitcoin does at this price level then we decide if we should enter into an investment with some of these cryptocurrencies. you must not buy on the highs. especially with volatile cryptocurrencies. be very patient
below you can see Bitcoin futures. Futures contracts are showing only a slight upside in Bitcoin in the near future. these numbers can very quickly change if sentiment for cryptocurrency changes through some sort of catalyst like news or regulation of some sort.
in the chart below you can see how bitcoins price is approaching a near-term resistance from the price range Bitcoin has been trapped within recently?
remember there are some ETFs which you can trade the swings and Bitcoin without actually buying the cryptocurrencies if they are not available in your region. the first ticker is a leverage ETF for shorting Bitcoin. $PROSHARES SHORT BITCOIN STRATEGY ETF(BITI.US$ $Global X Blockchain & Bitcoin Strategy ETF(BITS.US$ $Valkyrie Bitcoin and Ether Strategy ETF(BTF.US$ $Viridi Bitcoin Miners ETF(RIGZ.US$
so will Bitcoin reject resistance and stay within range? or will we finally get a breakout of this resistance level and have some good green days in Bitcoin for a change?
so will Bitcoin reject resistance and stay within range? or will we finally get a breakout of this resistance level and have some good green days in Bitcoin for a change?
find more tradable technical levels through the links in my post. here's a link below about AMC
$Invesco QQQ Trust(QQQ.US$ $ProShares UltraPro QQQ ETF(TQQQ.US$ $ProShares UltraPro Short QQQ ETF(SQQQ.US$ $Riot Platforms(RIOT.US$ $MicroStrategy(MSTR.US$ $Marathon Digital(MARA.US$ $SPDR S&P 500 ETF(SPY.US$ $SSE Composite Index(000001.SH$ $Hang Seng Index(800000.HK$ $CSI 300 Index(000300.SH$ $FTSE Singapore Straits Time Index(.STI.SG$ $S&P/ASX 200(.XJO.AU$ $VIX Index Futures(MAY4)(VXmain.US$
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
Trade the trends via technical, fundamental, and macro analysis. Day Trades, swing trades, and long-term investments.
16KFollowers
2942Following
28KVisitors
Follow
SpyderCallOP : rejected resistance. with the candle wick false break out. I still might break out of this resistance soon but as of right now the sellers have stepped in
Giovanni Ayala :
102640653 : Quiet n slow premarket
SpyderCallOP 102640653: we finally had a breakout. looking kinda bullish. I wonder if this breakout will hold
102640653 SpyderCallOP: Hope so it hold out. Some big names have breakout too.
SpyderCallOP 102640653: you are right. and spy futures are about to break out of the resistance of the downtrend. this could be very bullish. this could possibly be the turning point in the markets. I'm not sure yet though. we will need to get that break out and spy futures to be sure
bertmaple : Looking for next move in downtrend after price hits resistance around 25k.