Hey guys,
I hope you’re having a great weekend. I certainly am 😎. But while forex markets pause, crypto certainly don’t, so let’s have a look at the price action.
We have talked about Bitcoin pulling back into previous resistance turned support and that’s exactly what we’ve seen.
Take a look at the higher time frame chart:
BTC/USD Daily
After the Winklevoss ETF was denied, the market sold off, but the fact that this shouldn’t effect the CBOE’s own ETF application meant that the news wasn’t bad enough to break support.
Look at the bounce on the intraday chart:
BTC/USD Hourly
Quite healthy price action if you ask me.
Have a good one!
✌🏻.
@forexbrokr | Steemit Blog
Market Analyst and Forex Broker.
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Return from Bitcoin Retests Previous Resistance as Support to forexbrokr's Web3 Blog
