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)
Global Crypto is not a registered financial advisory, and the information provided on this website and its subsidiaries is for entertainment & informational purposes only. Each reader is responsible for their own financial decisions, and Global Crypto cannot be held responsible for any decisions made by its readers and users. Global Crypto encourages all readers to consult a professional and registered financial advisor before making any financial decisions.