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Daily candle is critical for bearish structure, Jordan Kerridge notes
Jordan Kerridge comments that today's Bitcoin daily candle holds increased significance for market direction.
He observes that overnight buying pressure was stronger than desired for a bearish outlook and notes that Bitcoin must now exhibit clear weakness to maintain the current bearish setup. Kerridge is closely watching the daily RSI for signs of a potential rejection that could validate his thesis.
Kerridge has previously highlighted the long-term potential of individual equities alongside his cryptocurrency commentary. He noted that a $1,000 investment in Tesla shares in 2011 would now be valued at $380,000, based on a caller's experience on The Dave Ramsey Show (read more). In another analysis, he pointed out that IBM shares purchased for $10.41 in 1932 would exceed $1 million today, representing substantial returns over 94 years (details).
This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.
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