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Bitcoin Technical Analysis: Did BTC Just Flip Bullish? (April 2020)
The price of Bitcoin is currently trading well above $7k just as we anticipated yesterday. It was not an easy call for me to make because most people have a binary approach to trading, meaning you are either a bull or a bear. So, I have long been known as a bear to most such traders and I have been expecting BTC/USD to decline down to $1k which I still am. The reason I expected BTC/USD to do what it did was because the market rarely crashes straight to the ground. When you trade for a long enough time, you will notice that the price action has a tell to it. You can sense when the big players are trying to trap the bulls or the bears.
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Today’s video was created using Crypto Daily Charts.
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As many cryptocurrency traders and market-watchers know from their market analysis, cryptocurrencies exhibit very technical trading patterns, similar to other asset classes including foreign exchange (forex) and equities (shares and stocks), just to name a couple. Charts are therefore the most important trading tool that traders incorporate into their risk management strategies โ when and at what prices to buy and sell cryptocurrencies.
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โถ Coinbase Website: Coinbase.com
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