Jan. 09, 2021- Bitech.pro cryptocurrency market outlook.
Hello guys. Welcome to the Saturday cryptocurrency market overview.
Hello guys. Welcome to the Saturday cryptocurrency market overview.
Nothing happened since our last review. Price pretty much at the same levels.
Let’s start with Bitcoin.
$BTC 100 dollars away from price compared to our last review. Markets are boring during weekends, indeed. Market makers having days off.
A bit of asks at ATH. But overall orderbooks quite empty. Wouldn’t be surprised if the price move for 5–15% in a few candles. Have no idea in which direction, chances of downside higher since markets overbought for quite a while. However, shorting isn’t the best idea here.
Let’s switch to Ethereum here.
Same picture here. The price hasn’t moved from the weekly resistance(1244) away. Stoch RSI bottomed on 4h timeframe and RSI about to break up. Don’t like longing from here still, considering our spot $BTC exposure and our $ETH short from last day.
Haven’t closed the hedge short from last day. Probably keep it until stopped out or target hit.
I’ve mentioned that alts might have some fun during the weekend in the past review.
Seems like it’s the case for $ZRX.
Bought some spot $ZRX at spot Bitech spot exchange.
Closing above the double bottom neck was enough to take position for me. Not to mention it was S/R on the low timeframes. R/R around 4.5 with target 59% away at 0.7335. Decent one.
Conclusion:
Markets are boring during weekends, that’s why we took the $ZRX position. Gonna keep my $BTC spot exposure and $ETH short position as a hedge, if something crazy happens. But I doubt we will see any $BTC action before Monday’s CME session opens. Moreover,I’ll be playing over binary options at Bitech’s OptiPro module on an intraday basis.
That’s it for today. Tomorrow I’ll be taking a day off.
If you haven’t taken a look at the OptiPro module at Bitech.pro for binary options yet. Don’t hesitate and sign up.
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