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

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Keep on trading,

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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

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