What’s Next for the Biggest Digital Coin?

The futures market for the world’s leading digital currency BTC has given up a lot of ground over the past year or so.

And unfortunately for BTC believers, there could be more downside in store from here.

While the monthly time frame is in a long term bullish trend, the market is currently moving from a high price towards a future low price.

So, today, let’s look at what’s next for BTC and see where it might find some support…

What’s Up With BTC?

Here’s how the chart is setting up for the BTC futures market…

BTC Futures (BTC) Futures Contract 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 11,060.00. 

I am out of the market waiting for the market 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. 

But with inflation on a fast-track, you need to know how to amplify your gains. To see how I do it, check out the link in the 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.

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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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