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21 January 2021

Market Watch by Fyookball: Price Is in a Tight Channel | Markets and Prices Bitcoin News

Market Watch by Fyookball: Price Is in a Tight Channel | Markets and Prices Bitcoin News


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Market Watch by Fyookball: Price Is in a Tight Channel.

BTC is often a good macro indicator for the entire crypto market, so this is a good place to start.

So the market is looking quite bullish indeed.Nevertheless, bears will also see shorting the $20,000 level as a trade.

Typically, selling at resistance is a low probability (but good risk/reward) trade, as this kind of trade usually involves a tight stop.

You can then manage the trade and add on later at either higher or lower prices, and more information is made available to you by the market and other factors.Steep trends are not very sustainable, and will have to correct at some point.

If there is an extreme overshoot to the high side and the market prints a full bear candle reversing down, it may be an opportune time to short the market, although this should be considered an advanced trade, as shorting in a bull market needs to be done very carefully.

Still, price can’t seem to get near it now, and the candles are small.The bears aren’t able to push the price down further so the ball is now in the bull’s court?

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