Three times the BTC bounced from the support of $9300, creating a bearish triangle pattern.
The current price is facing with strong resistance at $11100, close to the downtrend line.
We suggest traders avoid buying at the moment.
In order to enter the uptrend, Bitcoin needs to break the $11100 level and touch the $12000 level then retest. When the price retest, it is the right time to enter the order. The target price for a successful breakout would be 14000 or higher.
Conversely, when the price breaks the support of $9300. It is a good time to enter short positions. The target price will be $7500.
BTC dominance has broken the 72% resistance level and will continue to rise higher. We recommend traders do not buy altcoins at this time.
The current price is facing with strong resistance at $11100, close to the downtrend line.
We suggest traders avoid buying at the moment.
In order to enter the uptrend, Bitcoin needs to break the $11100 level and touch the $12000 level then retest. When the price retest, it is the right time to enter the order. The target price for a successful breakout would be 14000 or higher.
Conversely, when the price breaks the support of $9300. It is a good time to enter short positions. The target price will be $7500.
BTC dominance has broken the 72% resistance level and will continue to rise higher. We recommend traders do not buy altcoins at this time.
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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.
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.