BTC update #BTC_Update What's new since yesterday guys? It's | 4C Trading News

BTC update #BTC_Update

What's new since yesterday guys? It's Saturday, but the market situation deserves an update. I was talking about a bearish risk given the lack of volume during the last uptrend and a trading range filled with indecision.

Well, BTC has been decisive and is now trading around 47,000 after touching 42,000, which is exactly the most important liquidity area before 35k.

Why the drop?

There may be a link between the classical financial markets and the cryptos, which are still highly correlated. The resurgence of the Covid epidemic cannot be excluded either.

What to do?

The daily technical situation is still completely negative and the observation remains the same on a 4h time horizon. The market has shown great buying interest in the test of the 40k, and we will wait for the close of this daily and weekly candle to make our arrangements.

If we close the week as is, then it will be time to look for short entries.

https://www.tradingview.com/x/IfoMxFk1/

Until then, stay safe in this turbulent environment and enjoy your weekend!