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Bitcoin Keeps Rising While Stock Markets Dive

August 6, 2019 | 11:21 am | The 5%ers' Blog > Trading Room
August 6, 2019 | 11:21 am
The 5%ers' Blog > Trading Room
Bitcoin Keeps Rising While Stock Markets Dive

What Makes This Bitcoin Demand Level a Critical One?

Tuesday 06/08/2019

Bitcoin keeps rise up and creates fresh demand levels on its way up.

The financial markets all over the world had a significant drop in the last few days.

Some of the indices had the worst day in 2019 yesterday.

The trade war between USA and China, the interest rate cut for the USD, the delicate situation with Iran, and many other reasons creates uncertainty

Among investors all over the world.

The combination of all these reasons causes the markets to fall down.

Meanwhile, the Bitcoin and other cryptocurrencies that many consider a risky asset keeps on its rally toward the next fresh supply at 13.000 zones.

On its way up the Bitcoin price creates a fresh demand below.

This demand is a critical level since it broke out the significant support resistance zone from the left.

It indicates a powerful demand level.

If the price will retrace this demand I’ll buy there in the first touch as a continuation trade.

My final target for this position will be the fresh supply at the top which is also a great level for sell position.

 

 

 

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