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.

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Keep on trading,

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

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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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