Markets Stable As Bitcoin Stays Above $8,000

Bitcoin
Bitcoin had an amazing week due to the excitement around ETFs, reaching a high of $8,500. The excitement was short-lived and the price saw a drop when SEC denied the application from Winklevoss’ for the second time. However, the bulls won as Bitcoin was back above $8,000 in a short while.

Our previous recommendation was to buy at $6,800 and sell at $7,700. However, a new resistance has been formed at $8,500, which is our new sell-zone now with stop-loss at $8,000. Buy back at $7,600, to sell it once again at $6,800 and another buy order above that. Long-term holders can continue holding with a stop-loss at $7,200.