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Let’s Review the Outlook for BTC

The market for the largest digital currency has been in disarray over the past few months. 

Ups and downs on both a daily and weekly basis continue to flummox traders. 

So, let’s dive in and take a further look at the market for the BTC futures contract (BTC).

We want to see what this market may be holding right now and whether there is some upside in the making…

 The BTC Futures (BTC) Market Review

Here’s how the chart is setting up for the BTC futures contract (BTC)…

  BTC Futures Contract (BTC) Price and Technical Analysis – Source: TradingView

The BTC monthly time frame is in a long term bullish trend. 

The market is moving from a high price towards a future low price, and it has a down gartley Fibonacci extension price point at 10,300.00, which is near the up trend line.

If the market hits the down gartley Fibonacci extension, it is expected we’ll see a bullish U-turn towards 76,555.00, which is the monthly up Fibonacci extension. 

It will be a good idea to turn to the daily time frame and to wait for the market to break the down daily trend line before looking for long ideas.

The Bottom Line

For more on the markets as well as trading education and trading ideas like this one, look for the next edition of Josh’s Daily Direction in your email inbox each and every trading day.

I’ll be bringing you more of my stock and futures contract trading tutorials as well as some additional trading ideas.

And if you know someone who’d love to make this a part of their daily trading routine, send them over to joshsdailydirection.com to get signed up!

Keep on trading,

P.S. Beyond digital currencies, I am finding great potential stock trades from my top stocks that I present on an ongoing basis in my premium trading service, Josh’s Top 5.

To learn more, click here.

The post Let’s Review the Outlook for BTC appeared first on Josh Daily Direction.

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Joshua Martinez

Joshua Martinez

Joshua Martinez is the Founder & Instructor For Traders Agency. Since 2011 He has traded Forex & Futures and helped over 10K Students
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