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BTCUSD forming a bottom but has a long way to go yet
Published Updated Wed, July 18 09:51
Morning, Traders.
Check out Bitcoin on the weekly chart. In this case, I’m using the BTCUSD chart, but you could just as easily be trading actual BTC instead of CFDs. I never thought I’d say this but it looks as though Bitcoin is working on putting in a low here. It still has a lot more to prove as yet, but we’ve got some really nice rounding-bottom action after three decent legs down.
Again, still a lot of work to do, but we’re seeing much better action over the past 2 weeks. Certainly not actionable for me at this stage, but I’m watching keenly.
Trade safe folks.
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