Industry news:
One of the largest crypto derivatives exchange, BitMEX is currently under investigation by the US's top regulator, CFTC. The trading platform is majorly known for the crypto derivatives trading feature. . .
Trading recommendation:
BTC has been trading exactly what I expected yesterday. The down breakout of the 3-day balance is still active and is confirming the selling pressure. You should still watch for potential selling opportunities with the main target at $9.083.
Yellow rectangle – Resistance ($11.000)
Blue horizontal line – Key swing low and downward target ($9.083)
Red lines – Downward channel
MACD oscillator is still showing the decreasing upward momentum and BTC, which confirms my bearish view. Slow MACD line is clearly going lower and that is another confirmation for the downside. Percent Bollinger oscillator is showing the strong momentum down and is supportive for my down view. My advice is to watch for selling opportunities with the target at $9.083.
