https://www.tradingview.com/x/rtQCr7pB/ BTC Update: There is | Crypto Infinity Trading
https://www.tradingview.com/x/rtQCr7pB/
BTC Update:
There is a lot of FUD in the market.. you all probably have heard about: - Kucoin hack of $150 million - BitMEX is charged by CFTC and SDNY - Talks about a 2nd stimulus package but not passed yet. - U.S. president Trump and First Lady have tested positive for COVID-19
These newsflashes in the past week is causing a lot of panic and uncertainty in the market.. now I told y'all in the last update about a lot of variables in the market what we need to take into account.. well this is an example and probably more to follow in the coming weeks or months..
BUT still keep looking at the charts cause you will see on Technical Analysis the first signs of weakness or strenghts.. news can act as a catalyst to move price up or down but will never act solely on their own.. meaning if we are for example in a strong downtrend positive news will only give a small relieve bounce and if we are in a strong uptrend (like we are currently) bad news will give a small dump.. unless a black swan event occurs.. but this is a rare event and we already had one in March about sudden covid-19 lockdowns and we are still in the middle of it.. so the fear and panic COULD already be priced in.. Overall I think the market reacted quite calm on the past news events which could be perceived as strenght.. with that being said things can change fast so make sure you use good risk management..
So with that being said.. Right now everyone is in fear and uncertainity, yet the chart still looks in consolidation and is technically speaking NEUTRAL... In my opinion if we close below 10200 we go for the orange path and things will get slightly bearish.. and if we break and close above the red diagonal things will be slightly bullish.. in between is neutral and no trade zone unless you want scalping on low timeframes.
