Trading plan: BTCUSD (Bitcoin)
Ruslan Kuchma
Senior Chief Trading Officer | Crypto & Forex Markets Expert | 20+ Years in Asset Management & Risk Optimization
Bulls do not give up, and Bitcoin rate yesterday tried to break out of the strong hands of the bears. But, the descending price channel for Bitcoin still remains in force. Bulls will win the fight if Bitcoin's rate rises above $ 9200, and will be able to fix over this level.
Priority of the day: sell BTCUSD for $ 8000.
We believe that it will take some time for the victory of bears, so the price may take a course for lateral movement in the coming days.
Projected scenarios:
1. Sell BTCUSD from $ 8,900 to $ 8,000.
2. Flat in the area of $ 8900 - $ 8,400 until the end of the day.
Alternative scenario:
The Bitcoin rate can grow from $ 8,600 to $ 9,200. Given that the bulls are actively involved in the game, there is a probability of a breakdown of the downward bearish channel up. In this case, you have to recognize the losses, and take the side of the bulls.
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