Forex Signal For BTC/USD: No Short Pullbacks.
Forex Signal For BTC/USD: No Short Pullbacks.
Although
Bitcoin's long-term outlook is bullish, a short-term reversal cannot be ruled out. This action can happen when participants are selling ETF news.
Bear Market Outlook
- Set a sat-stop at 60,000 and take profit at 57,000 (bottom of ascending channel).
- Add a stop-loss at 63,000.
- Timetable: 1-2 days.
Forex Signal For BTC/USD: No Short Pullbacks.
Bull Market Outlook
- Take a buy-stop at 62,500 and a profit at 63,500.
- Add a stop-loss at 61,000.
The BTC/USD price remained stable as investors reacted to news that the Securities and Exchange Commission (SEC) is proceeding with its first Bitcoin ETF, also rising as inflation fears continue to spread in the US. It stayed above the important resistance at $62,000.
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