BTCUSD Potential Forecast | 9th March 2023
Fundamental Backdrop
1. Upcoming NFP print can dictate the direction on BTCUSD.
2. Fear and greed index is inclining more towards "fear".
Technical Confluences
1. Price is in a bearish trend, forming lower lows and lower highs.
2. Price has rejected off a H4 resistance zone at 22169.
3. Price looks poised to tap into the H4 support zone at 21400.
4. Price is well under the ichimoku cloud, signifying bearish intent.
Idea
I will be looking for price to continue its bearish momentum in the market and for price to retrace back to 15000 region.
NOT FINANCIAL ADVICE DISCLAIMER
The trading related ideas posted by OlympusLabs are for educational and informational purposes only and should not be considered as financial advice. Trading in financial markets involves a high degree of risk, and individuals should carefully consider their investment objectives, financial situation, and risk tolerance before making any trading decisions based on our ideas.
We are not a licensed financial advisor or professional, and the information we are providing is based on our personal experience and research. We make no guarantees or promises regarding the accuracy, completeness, or reliability of the information provided, and users should do their own research and analysis before making any trades.
Users should be aware that trading involves significant risk, and there is no guarantee of profit. Any trading strategy may result in losses, and individuals should be prepared to accept those risks.
OlympusLabs and its affiliates are not responsible for any losses or damages that may result from the use of our trading related ideas or the information provided on our platform. Users should seek the advice of a licensed financial advisor or professional if they have any doubts or concerns about their investment strategies.
1. Upcoming NFP print can dictate the direction on BTCUSD.
2. Fear and greed index is inclining more towards "fear".
Technical Confluences
1. Price is in a bearish trend, forming lower lows and lower highs.
2. Price has rejected off a H4 resistance zone at 22169.
3. Price looks poised to tap into the H4 support zone at 21400.
4. Price is well under the ichimoku cloud, signifying bearish intent.
Idea
I will be looking for price to continue its bearish momentum in the market and for price to retrace back to 15000 region.
NOT FINANCIAL ADVICE DISCLAIMER
The trading related ideas posted by OlympusLabs are for educational and informational purposes only and should not be considered as financial advice. Trading in financial markets involves a high degree of risk, and individuals should carefully consider their investment objectives, financial situation, and risk tolerance before making any trading decisions based on our ideas.
We are not a licensed financial advisor or professional, and the information we are providing is based on our personal experience and research. We make no guarantees or promises regarding the accuracy, completeness, or reliability of the information provided, and users should do their own research and analysis before making any trades.
Users should be aware that trading involves significant risk, and there is no guarantee of profit. Any trading strategy may result in losses, and individuals should be prepared to accept those risks.
OlympusLabs and its affiliates are not responsible for any losses or damages that may result from the use of our trading related ideas or the information provided on our platform. Users should seek the advice of a licensed financial advisor or professional if they have any doubts or concerns about their investment strategies.
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