BITCOIN: NOT A PLEASING CHART.
BITCOIN Update:
BTC in a shorter timeframe is not pleasing to the eyes. This rejection indicates a drop close to 16k to 15.8k in the coming hours. If BTC gets back above the resistance level (16.8k) then we can think of some positivity but until then I expect a further drop-down in the market. In a higher timeframe, BTC looks more bearish and we can expect it to drop close to 15.1k. This is good for the long-term holders to accumulate BTC at a lesser price but RIP for those who went long on BTC in leverage.
Key points:
1. 16.8k Resistance. BTC must break this to claim some positive move.
2. 16.1k further drop level.
Trade safely, guys.
BTC in a shorter timeframe is not pleasing to the eyes. This rejection indicates a drop close to 16k to 15.8k in the coming hours. If BTC gets back above the resistance level (16.8k) then we can think of some positivity but until then I expect a further drop-down in the market. In a higher timeframe, BTC looks more bearish and we can expect it to drop close to 15.1k. This is good for the long-term holders to accumulate BTC at a lesser price but RIP for those who went long on BTC in leverage.
Key points:
1. 16.8k Resistance. BTC must break this to claim some positive move.
2. 16.1k further drop level.
Trade safely, guys.
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.