Forex Signal For BTC/USD: A Relief Pattern Likely

Forex Signal For BTC/USD: A Relief Pattern Likely   Forex Signal For BTC/USD: A Relief Pattern Likely As the pair continues to decline, there is the possibility of a relief pattern as investors weigh the current contagion risks.  

Bull Market Outlook

 

• Set a buy-stop at 43,000 and a take profit at 45,000.
• Add a stop-loss at 42,000.
• Timeline; 2 days.

Forex Signal For BTC/USD: A Relief Pattern Likely

Bear Market Outlook

 

• Set a sell stop at 41,500.
• Take profit at 40,000 and add a stop loss at 42,500.

  /USD has dropped to its lowest level since early August as volatility increased. Bitcoin slumped to $40,000 overnight, (i.e. more than 20% from this month's high), bringing its total market cap to over $808 billion. Meanwhile, prices of other cryptocurrencies such as Ether, XRP, ADA, and BNB also fell.    

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