BTCUSD: Monthly Structure

6 Eyl 2020

The above chart is an attempt at showing BTCUSD's monthly structure. As this market enters a sell rotation, it makes sense to be alert for potential reversals in the sub 10k area. Monitor the 9.2k-9.8k price range for supply & demand imbalance hints. So far, BTCUSD is printing a correctional formation linked to an overall risk-off attitude that started sweeping through the markets as of the end of last week. Barring another 30% plunge in world indices, the risk-off mood will begin fading, and confidence will return to the markets, pushing the prices higher once again.