Bitcoin BTC/USD Overview
Let's take a Dive Into the Market ( Sadly Low Volume Weekend Market )
Although, it's better to let Weekly Close and Monday unfold:
Fundamentally Bitcoin Is Approaching its Production Cost -- viz. approx. 34k anything under that means ( it is a great investment opportunity - mind the words I did not use trading here ) -- So, could expect a quick downwards movement once it breaks this level.
Technically -- I am looking forward for a push down and take the lows into the Major Demand Zone - 32k Range and a wick to 28k; this can be seen as a sign of relief
BTC is trading Below 200MA
Confluence with the Demand zone is the unfilled CME GAP at 32k
Fear/Grid Index - Extreme Fear Index
Tl:DR
What I am waiting For:
1. Sweep into early 30k's
2. Wick into mid to late 20k's
Although, it's better to let Weekly Close and Monday unfold:
Fundamentally Bitcoin Is Approaching its Production Cost -- viz. approx. 34k anything under that means ( it is a great investment opportunity - mind the words I did not use trading here ) -- So, could expect a quick downwards movement once it breaks this level.
Technically -- I am looking forward for a push down and take the lows into the Major Demand Zone - 32k Range and a wick to 28k; this can be seen as a sign of relief
BTC is trading Below 200MA
Confluence with the Demand zone is the unfilled CME GAP at 32k
Fear/Grid Index - Extreme Fear Index
Tl:DR
What I am waiting For:
1. Sweep into early 30k's
2. Wick into mid to late 20k's
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