History has shown that overbought or oversold position doesn't need indicators for it to make a move - and this can pose a very significant danger if you are going for buy / long position. The collapse will be fast and high in volumes.
Monday, December 14, 2020
Bitcoin Forex Technical Analysis 15-Dec-2020
The hype of cryptocurrency have a great impact on the bitcoin forex trading - this can be seen on the BTCUSD chart where it sits on the overbought position and yet it is still poised to go further up based on the price actions signal. However the US dollar seems to gain some strength and it can be seen on the most traded pairs i.e. USDCAD, USDJPY, USDCHF etc. This could signal the brink of collapse of the bitcoin at the very least to correct the overbought position. We will see the impact on wednesday or thursday when most of the US economic data released which you can check on forex factory economic calender. Will it cause the bitcoin to go further up to ever more fragile territory or make a speedy reversale for retracement.
History has shown that overbought or oversold position doesn't need indicators for it to make a move - and this can pose a very significant danger if you are going for buy / long position. The collapse will be fast and high in volumes.
History has shown that overbought or oversold position doesn't need indicators for it to make a move - and this can pose a very significant danger if you are going for buy / long position. The collapse will be fast and high in volumes.
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