#BTC/USDT Bearish in short term Target $19.2k, Here's why!
Updated
BTC is likely to retest circle shown in this chart.
Reasons:-
1. The late longs are trapped. ✅
2. PA shows potential to be retesting the lower support of the channel. ✅
3. 19.2k to $20.5 is the important area of intersection. ✅
4. 50 MA support is around 20.5k bulls need to defend this level. ✅
INVALIDATION:- This chart will be invalidated if the price closes above $21,865.
This is not a financial advice. DYOR before taking any trade decisions.
Do let me know what you think in the comment section.
Hit the like button if you like this short update.
Thank you
#PEACE
Reasons:-
1. The late longs are trapped. ✅
2. PA shows potential to be retesting the lower support of the channel. ✅
3. 19.2k to $20.5 is the important area of intersection. ✅
4. 50 MA support is around 20.5k bulls need to defend this level. ✅
INVALIDATION:- This chart will be invalidated if the price closes above $21,865.
This is not a financial advice. DYOR before taking any trade decisions.
Do let me know what you think in the comment section.
Hit the like button if you like this short update.
Thank you
#PEACE
Trade active
Perfectly followed, since the impulsive wave was too quick we have a higher retest price.
If BTC prints some green candles here on the resistance turned support trendline,
I think 20.3k would be a good point to long.
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