Bitcoin daily candle analysis
The last analysis was correct and made you hopefully a profit of 600$. If not simply take the next train.
Today we have a big hammer. A hammers importance refers to the length of its shaft, so the one today clearly is a sign that the market does not accept lower prices. But expect no big rally at the moment because the monthly candle still shows Bitcoin is oversold. That means no new money is flowing in, because for new traders with experience in TA it is a very risky market right now.
So i expect a move sidewards in the coming days an a retest of the ATH by the end of the week. Next days of analysis will show clearer signs.
Wish you all good trades.
Today we have a big hammer. A hammers importance refers to the length of its shaft, so the one today clearly is a sign that the market does not accept lower prices. But expect no big rally at the moment because the monthly candle still shows Bitcoin is oversold. That means no new money is flowing in, because for new traders with experience in TA it is a very risky market right now.
So i expect a move sidewards in the coming days an a retest of the ATH by the end of the week. Next days of analysis will show clearer signs.
Wish you all good trades.
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