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Where Is BTC Headed Next?

The BTC futures contract (BTC) continues to garner plenty of attention from traders and investors alike. 

As such, it is ever more important that we continue to monitor the direction and the potential for the BTC index.

The monthly chart remains in a long term up trend but is moving from a high price to a future low price.

There could be further to fall before the up trend resumes, so let’s take a look at the BTC market to see what’s shaping up…

Watching the BTC Futures (BTC) Market

Here’s how the BTC futures contract (BTC) chart is showing the potential path forward…

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

The BTC daily time frame is in a down trend, with the market making lower lows and lower highs. 

There is a down Fibonacci extension below the market price point 11,060, about -2,134 ticks below the market.

I am out of the market waiting for it to hit the down Fibonacci extension… Then, I will look for the bullish reversal towards the monthly Fibonacci extension.

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. 

I’m not all about futures contracts, as I also follow stocks to identify top trading opportunities.

To learn more, check out the important P.S. below…

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. I continue to track down top stocks that I showcase inside my premium trading service, Josh’s Top 5.

To learn more, click here!

The post Where Is BTC Headed Next? 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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