Forex Signal For BTC/USD: Flag Points to a Traitorous Week
Forex Signal For BTC/USD: Flag Points to a Traitorous Week
Most analysts expect the consequences of FTX's collapse to spread to other companies and cryptocurrencies as well.
Bear Market Outlook
- Sell the BTC/USD pair and take profit at 15,500.
- Add a stop-loss at 17,000.
- Timetable: 1-2 days.
Forex Signal For BTC/USD: Flag Points to a Traitorous Week
Bull Market Outlook
- Set a buy stop at 16,800 and a take profit at 17,500.
- Add a stop-loss at 15,500.
The BTC/USD price was in a consolidation phase on Monday as concerns over the cryptocurrency industry persist, while bitcoin has been trading at $16,555 for the past few days.
This price is about 23% below this month's high.
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