Hey guys, I hope that you guys are doing good.
My previous BTC chart got obsolete with the retest level ($30.4k) as BTC dropped and close below it. BTC has been rejected from the $32k resistance level and most likely the price can reach the level of $30k or $29k where we have strong support. Most likely, BTC will bounce back from the support and that could be a good level to enter into BTC only if there is a positive confirmation.
If BTC breaks down and closes below the $29k support level then our trade setup will get invalidated.
If at all we see some positive bounce then I will keep my target around $32k.
My previous BTC chart got obsolete with the retest level ($30.4k) as BTC dropped and close below it. BTC has been rejected from the $32k resistance level and most likely the price can reach the level of $30k or $29k where we have strong support. Most likely, BTC will bounce back from the support and that could be a good level to enter into BTC only if there is a positive confirmation.
If BTC breaks down and closes below the $29k support level then our trade setup will get invalidated.
If at all we see some positive bounce then I will keep my target around $32k.
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BTC Update:
BTC is reaching our entry-level. If there is any positive bounce then $29k to $29.5k will be a good entry-level.
I will keep my SL at $27.7k.
Hoping BTC back from the support levels.