In this video, the Trader Guy looks at the cryptocurrency, bitcoin for the May 5th session.
Bitcoin/USD — Right below the $9,000 level, the market has not done anything for three days in a row. Also, the market is trading below the 100% Fib level. Bitcoin halving is expected to happen during this month, which could increase the demand for bitcoin. To the downside, you can expect buyers to arrive at the 200-day EMA. So, see pullbacks as potential buying opportunities. It looks like the market is heading towards the $10,000 level to the upside.
© Prabhu for Forex Videos, 2020. |
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