Here’s Where BTC Could Bottom

The market still shows BTC, the world’s leading digital currency futures market, in a long term bullish uptrend. 

And that’s good for those who have invested in the digital currency.

But for those on the sidelines – traders like us – we’re seeing better trading positions by being patient and waiting for a better entry level.

Read on for our trading take and chart analysis…

Waiting for the Right Level

Here’s how we see the major digital currency of BTC trading on a long term time frame…

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.

The market has a down gartley Fibonacci extension price point 10,300, which is near the up trend line.

If the market hits the down gartley Fibonacci extension, it is expected the market will make a bullish U-turn towards 76,555, 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

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… 

But my colleague and stock trading pro Ross Givens has come up with some incredible strategies of his own that continue to impress.

If you’re interested, 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 before you go, head on over to the Traders Agency YouTube channel for breaking market news, live trading sessions, educational videos and much, much more!

Click here now to subscribe!

Keep on trading,

P.S. My colleague and expert stock trader Ross Givens continues to work on many of his strategies and his overall research. 

And in particular, he has some great “stealth” trading ideas that the market is missing… but you don’t have to.

To learn more, click here!

Josh Martinez

Josh Martinez

Josh Martinez is an elite Analyst who’s been actively trading the financial markets since 2011. He’s known as one the leading innovative traders in this industry due to his his cutting-edge strategies.

Josh first burst into the scene when he took an initial deposit investment of $500 and turned into over $39,000 in just under 2 years.
Josh’s trading articles have been featured in Your Trading Edge, The FX Street, Trader Planet, Forex Crunch, Trading Pub, and Equities.com.

In addition to trading, Joshua has also trained thousands of traders worldwide. His strategies and systems have helped others find success in the market

Leave a Reply

Your email address will not be published.

Stop wondering what direction the markets are headed! Sign up right now to get Josh’s Daily Direction straight to your inbox each morning before the trading day even begins. Best of all – it won’t cost you a dime.