Over the weekend, our Whatsapp and Telegram trader’s groups were abuzz with activity, primarily because the crypto charts were starting to tell an exciting story. There was a strong indication that we were about to see some movement, likely to the upside.
Our Financial Analyst Graeme Tennant shared a symmetrical triangle with contracting volatility on both BTC and Ethereum, and felt bullish. Within 48 hours both these scenarios played out, and those who agreed with the consensus enjoyed a successful trade.
ETH moved most significantly of the two, providing some outstanding gains, while Bitcoin looked like it was aiming for $8000 but only reached $7450, at which point Graeme and the traders agreed that it was time for a cool off.
In this “lockdown edition” of our weekly Market Analysis, we look at where things could be headed next, with a likely cool down period expected for the next few days…
HERE IT IS ON YOUTUBE:
HERE IS THE AUDIO OF THE ANALYSIS:
You can also find it on our Podcast page using one of the below links to your favourite platform:
SPOTIFY (James’ personal favourite, even with an iPhone!)
ANCHOR (The host service)
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