The BTC futures contract (BTC) continues to garner plenty of attention from traders and investors alike.
As such, it is ever more important that we continue to monitor the direction and the potential for the BTC index.
The monthly chart remains in a long term up trend but is moving from a high price to a future low price.
There could be further to fall before the up trend resumes, so let’s take a look at the BTC market to see what’s shaping up…
Watching the BTC Futures (BTC) Market
Here’s how the BTC futures contract (BTC) chart is showing the potential path forward…
BTC Futures Contract (BTC) Price and Technical Analysis – Source: TradingView
The BTC daily time frame is in a down trend, with the market making lower lows and lower highs.
There is a down Fibonacci extension below the market price point 11,060, about -2,134 ticks below the market.
I am out of the market waiting for it to hit the down Fibonacci extension… Then, I will look for the bullish reversal towards the monthly Fibonacci extension.
The Bottom Line
There are multiple ways to trade the futures, stock and other markets. We can trade the indexes, both up and down, as well as individual stocks.
I’m not all about futures contracts, as I also follow stocks to identify top trading opportunities.
To learn more, check out the important P.S. below…
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