#Analytics 💰BTC - Overview
In the last analysis they wrote that the decline at the moment looked very weak and it is quite likely to go after the liquidity of shortists, they pointed out the nearest levels 29500-29700. As a result - we got a powerful shoot up to 30000.
The growth was quite good and aggressive, but bitcoin remembered the correlation with S&P500 at the moment when the index started to fall aggressively. Perhaps if it wasn't for the correction in the S&P500, bitcoin would have continued its rise to 30500. Besides, the volumes on the growth were very good. And as a result, we got a takeover of the rising candle on August 1, and it did not consolidate above 29500.
It's hard to make trading decisions now, but our team doesn't think that the current picture looks terrible. Yes, if the S&P500 continues to fall aggressively, bitcoin will make a break (under 28600) and go to 28300, 28000 and 27500. But if there is no aggressive fall of the index - bitcoin may feel more confident.
To confirm the longing scenario, we need to see a confident consolidation above 29500 and a return to the previous sideways range. After that we can target the middle and upper boundary of the range.
Ocean TA | Education | P2P | Indicators | All trade agreements
In the last analysis they wrote that the decline at the moment looked very weak and it is quite likely to go after the liquidity of shortists, they pointed out the nearest levels 29500-29700. As a result - we got a powerful shoot up to 30000.
The growth was quite good and aggressive, but bitcoin remembered the correlation with S&P500 at the moment when the index started to fall aggressively. Perhaps if it wasn't for the correction in the S&P500, bitcoin would have continued its rise to 30500. Besides, the volumes on the growth were very good. And as a result, we got a takeover of the rising candle on August 1, and it did not consolidate above 29500.
It's hard to make trading decisions now, but our team doesn't think that the current picture looks terrible. Yes, if the S&P500 continues to fall aggressively, bitcoin will make a break (under 28600) and go to 28300, 28000 and 27500. But if there is no aggressive fall of the index - bitcoin may feel more confident.
To confirm the longing scenario, we need to see a confident consolidation above 29500 and a return to the previous sideways range. After that we can target the middle and upper boundary of the range.
Ocean TA | Education | P2P | Indicators | All trade agreements