Hi dear traders
The weekly candle closed below 21.8k .this is not good.
We have two scenarios
1. The price has pullback to test the 21.4k resistance as support. In this case, it will move towards the 22k and 24k resistances after confirmation.
2. The price moves towards the 20.5k and 20k supports to accumulate liquidity.
For long position, wait for the confirmation of area 21.4k.
For the short position, wait for a complete breakdown and confirmation of 21.4k.
This analysis will be updated for the time of entry.
Let's see what happens
This is not financial advice ( DYOR )
Good luck
The weekly candle closed below 21.8k .this is not good.
We have two scenarios
1. The price has pullback to test the 21.4k resistance as support. In this case, it will move towards the 22k and 24k resistances after confirmation.
2. The price moves towards the 20.5k and 20k supports to accumulate liquidity.
For long position, wait for the confirmation of area 21.4k.
For the short position, wait for a complete breakdown and confirmation of 21.4k.
This analysis will be updated for the time of entry.
Let's see what happens
This is not financial advice ( DYOR )
Good luck
