Hello, traders welcome to another BTC/USDT chart update.
As we can see in the above-mentioned chart BTC broke the $31.8k resistance level and bounced, but was unable to sustain that price level and got rejected.
Now, BTC is currently moving downside and lost almost 2.5% in a few hours.
BTC currently trading on a support zone of
31K, BTC needs to close above this red support zone, with 50 min left for a 4hr candle close. Candle close will decide the next upcoming move of BTC.A candle that closes below the support zone will lead BTC again towards the price level of $30k.
IMHO, we should avoid long trades and wait for a candle close and if holding any, keep your stop losses (SL) tight.
NOTE: This is not financial advice. This is for education purposes only. I am not responsible for the profits or losses you generate from your investments.
DO YOUR RESEARCH BEFORE MAKING ANY TRADES.
Thank you.
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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.