The BTC (BTC) digital currency futures market remains in a long term up trend on the monthly time frame.
There is still a down Gartley Fibonacci extension price at 10,300, which we are expecting will be hit near the up trend line.
If or when that future low price is hit, it should U-turn the market and send the price back towards all-time highs.
However, BTC has been moving sideways since July, so let’s check in an see where it currently stands…
The Future of BTC?
Here’s how the chart is shaping up and how we see the market developing…
The BTC daily time frame is in a down trend. The market is making lower lows and lower highs.
There is a down Fibonacci extension below the market price point 11,060, about -1,629 ticks below the market.
For now, we are out of the market waiting for the market to hit the down Fibonacci extension.
Then, we will look for the bullish reversal towards the monthly Fibonacci extension of 76,555.
The Bottom Line
There are multiple ways to trade the futures, stock and other markets. We can trade the indexes, both up and down, as well as individual stocks.
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Keep on trading,
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