Here's another way to look at #Bitcoin in the hourly timeframe.
After hitting $59,476, #BTC got rejected as expected. The current price at $57.9k indicates a further downshift, possibly hitting the supporting trendline.
The yellow dotted line is acting as good support for #BTC and it is likely to maintain this support even if the price drops.
Also, we have the CPI news coming up in 6 hours. So, expect volatility in the market.
Entry: $55.7k to $56.8k.
Leverage: 5x to 10x.
Stop loss: $54.1k.
Target: $60k.
Not financial advice.
Trade safely.
Regards,
Team Dexter.
After hitting $59,476, #BTC got rejected as expected. The current price at $57.9k indicates a further downshift, possibly hitting the supporting trendline.
The yellow dotted line is acting as good support for #BTC and it is likely to maintain this support even if the price drops.
Also, we have the CPI news coming up in 6 hours. So, expect volatility in the market.
Entry: $55.7k to $56.8k.
Leverage: 5x to 10x.
Stop loss: $54.1k.
Target: $60k.
Not financial advice.
Trade safely.
Regards,
Team Dexter.
Note
#BTC once again pumped up to $59,579 because of the CPI news but soon got dumped as well. The yellow dotted line still managed to hold the price, and currently, we can see a nice rebound.
According to the analysis, BTC is likely to drop to $56.5k, followed by a decent rally close to $60k.
Entry: $55.5k to $56.5k.
Target: $60k.
Not Financial Advice.
Trade safely.
Regards,
Team Dexter.
#BTC
Note
BTC: $56.5k!
Note
A perfect call!
BTC hit the $60k as expected.
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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.
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.