#BTCUSD Bearish Divergence played out? Next bounce area?
Updated
Welcome to this quick Update, everyone.
If you are reading my updates for the first time do follow me to get more complex charts in a very simplified way.
I also post altcoin setups on Spot, Margin, and Futures.
Bitcoin played out the bearish divergence and got rejected from 50.5k level.
I WARNED IN MY LAST UPDATE TO AVOID MARGIN AND FUTURES TRADING.
I hope you all listened.
The price also made a low of 47.7k which is an important level.
The only support we have in the short term is the 200D MA.
Holding this level could take us back above 49k within the next 48 hours.
Break below this level BTC will be bearish and we can expect as low as 44k to be tested.
The overall trend is bullish, I just shared the LTF scenarios with you.
In a nutshell, I will avoid margin longs unless I see some concrete confirmations in the daily chart. All we need is to maintain the 46.5k level in daily closes. If we do both alts and btc will start rallying together.
Don't worry I will keep posting these ideas for you all no matter if the market is dumping or pumping.
So stay tuned and chill.
Keep accumulating the ALTS in BTC pairs on spot.
They will be profitable.
What's your thought on this?
Do you think this correction is over?
Do you think BTC could easily pump from here?
Do hit the like button if you like this update and share your views in the comment section.
Thank you
#PEACE
If you are reading my updates for the first time do follow me to get more complex charts in a very simplified way.
I also post altcoin setups on Spot, Margin, and Futures.
Bitcoin played out the bearish divergence and got rejected from 50.5k level.
I WARNED IN MY LAST UPDATE TO AVOID MARGIN AND FUTURES TRADING.
I hope you all listened.
The price also made a low of 47.7k which is an important level.
The only support we have in the short term is the 200D MA.
Holding this level could take us back above 49k within the next 48 hours.
Break below this level BTC will be bearish and we can expect as low as 44k to be tested.
The overall trend is bullish, I just shared the LTF scenarios with you.
In a nutshell, I will avoid margin longs unless I see some concrete confirmations in the daily chart. All we need is to maintain the 46.5k level in daily closes. If we do both alts and btc will start rallying together.
Don't worry I will keep posting these ideas for you all no matter if the market is dumping or pumping.
So stay tuned and chill.
Keep accumulating the ALTS in BTC pairs on spot.
They will be profitable.
What's your thought on this?
Do you think this correction is over?
Do you think BTC could easily pump from here?
Do hit the like button if you like this update and share your views in the comment section.
Thank you
#PEACE
Trade active
BTC is testing the 200D MA since many hourly closes.
We need a green candle with string volume else this level could be broken.
If it does it I will close my margin and futures positions that I opened recently.
Because that could open a door for 44k to 46k level.
We can get more discounts on alts.
Spot tradingg is fine, keep accumulating on the dips.
Stay tuned.
Trade active
Followed our last update perfectly>
Broke out of the channel.
Rally to 50k seems possible now.
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