BTC UPDATE: STILL HOLDING THE SUPPORT.
Updated
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.
Note
BTC update:
BTC is doing great here. I am expecting BTC to reach close to 44k.
coincall.com/r/43438887
Trade crypto options and futures on Coincall for great onboarding bonuses and a premium trading experience.
Trade crypto options and futures on Coincall for great onboarding bonuses and a premium trading experience.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.