Market Update: BTCUSD & XRPUSD – Jan 3rd, 2023
NOTE: This Market Newsletter is developed by using Daily Chart Time Frame, and a relevant price chart is attached to each market.
BITCOIN – BTCUSD: Looking To Sell AT Or Around $18154 – $18663 Resistance Area
Comments: The market has been trading in a tight chop/range since last two weeks (The tight chop/consolidation is highlighted with a red colored box).
The market sold off significantly from the recent Bearish long-Tailed Candle formation (Also known as Bearish Pin Bar Setup), that had formed right below the $18154 – $18663 Resistance Area on Wednesday, Dec 14th.
Potential Trade Signal: We are waiting to sell on a pullback to the $18154 – $18663 resistance zone, and after a Bearish Setup or Signal.
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RIPPLE – XRPUSD: Buying The Bullish Candlestick Setup
Comments: Price formed a Bullish long-Tailed Candle formation (Also known as Bullish Pin Bar Setup), just above the 0.3026 – 0.3205 short-term support area on Monday, Jan 2nd.
Potential Trade Signal: We are buying from within the range of the current Bullish long-Tailed Candle formation (Also known as Bullish Pin Bar Setup), with stops below the low of this setup.
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Disclaimer: The risk of loss in trading financial market products, like Cryptocurrencies can be substantial. You should therefore carefully consider whether such trading is suitable for you in light of your financial condition. Any content posted here should not be considered financial or Trading advice, this newsletter is just for information purposes and is just the author’s opinion.
