For some reason I got a vibe that this news won't impact much on the price and just in few days the price was back to the previous range.
I did short BTC at $26.7k but just when I got the vibe that it's kind of a fakeout then I made an exit.
Fortunately I made an exit at the right time otherwise I would have been at a loss.
I know it was a gamble because the trade was not based on any technical analysis and just the market news.
Topic: Bitcoin moving with fundamental news - page 3. (Read 456 times)
Bitcoin moving with fundamental news events and the breakout turns to be a fakeout now. Price fully reversed back to the resistance area and rejected again. #BTC back in range, so lets see where the breakout would be.
Do you expect the price of bitcoin to go up or down from this range?The 200EMA serves as a support line on the bitcoin price chart for now, but there is a good chance that the price of bitcoin will go below this support line.
Reaching the support level and bouncing from it represents the strength of the bullish trend within this price range, so I think that we have reached a parity point, as the price will not increase much or decrease much between 27800 and 25400, which is a price range through which we may see the price throughout at least this month, and we will get more confirmation After the Fed meeting in the coming days.
We can match these numbers with the unrealized net profit / loss index, which gives us a sense of safety if the values are low below zero, which we seem far from, but we are getting closer to it than in past times.
We can match these numbers with the unrealized net profit / loss index, which gives us a sense of safety if the values are low below zero, which we seem far from, but we are getting closer to it than in past times.
The volatility with price now can be traced with what is coming out from binance legal challenge and allegations with sec and restrictions from some countries. If that is what you call fundamental news maybe and that is going to create more panic until it settles down. However, it shouldn't affect the price of bitcoin for a longtime because bitcoin has a way of moving on after the news. News is a time to make quick profit and quick loss.
Bitcoin moving with fundamental news events and the breakout turns to be a fakeout now. Price fully reversed back to the resistance area and rejected again. #BTC back in range, so lets see where the breakout would be.
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