Guys welcome to this BTC update.
In our last update, we saw BTC breaking out of the trendline and we even booked good profits. Even after the breakout, we can see that BTC is unable to make that jump we expected. Does it mean, BTC will drop back once again? Well, not exactly. We have important support and resistance level that will help us to trade safely.
Currently, BTC is above the trendline and the support level of $40.1k which is a good thing. If BTC manages to hold these levels then I am expecting a rally towards $44k soon. Things will get negative if BTC drops below the $40.1k support level.
I am still holding my 50% position in spot and I gonna hold it until $37k is broken. That will be my strategy to be on the safer side. You guys can plan yours accordingly.
Note: This is not financial advice. This trade setup is based on my T.A and I am risking my own money on this trade. I am reliable for my own losses and profits. So, trade as per your preference.
Let me know what you think about this idea and if you like it then do share the link wherever you can. Let this idea reach as many traders as possible.
I will cover more on this in the coming days until then stay safe and trade well.
Thank you.
In our last update, we saw BTC breaking out of the trendline and we even booked good profits. Even after the breakout, we can see that BTC is unable to make that jump we expected. Does it mean, BTC will drop back once again? Well, not exactly. We have important support and resistance level that will help us to trade safely.
Currently, BTC is above the trendline and the support level of $40.1k which is a good thing. If BTC manages to hold these levels then I am expecting a rally towards $44k soon. Things will get negative if BTC drops below the $40.1k support level.
I am still holding my 50% position in spot and I gonna hold it until $37k is broken. That will be my strategy to be on the safer side. You guys can plan yours accordingly.
Note: This is not financial advice. This trade setup is based on my T.A and I am risking my own money on this trade. I am reliable for my own losses and profits. So, trade as per your preference.
Let me know what you think about this idea and if you like it then do share the link wherever you can. Let this idea reach as many traders as possible.
I will cover more on this in the coming days until then stay safe and trade well.
Thank you.
BTC update:
BTC is doing great here. I am expecting BTC to reach close to $44k.