In the daily timeframe, BTC appears bearish. It failed to reach the resistance trendline and was rejected after hitting $65k. The price in the hourly timeframe shows some support, but without sufficient inflow, this support may not hold.
In this chart, BTC is caught between support and resistance, and given the current market scenario, the price is leaning more toward the bearish side. The support trendline around $52.5k will be crucial if BTC drops further.
Be cautious and do thorough research before investing. If you're using leverage, make sure to set a stop loss.
Trade safely.
Regards,
Team Dexter.
In this chart, BTC is caught between support and resistance, and given the current market scenario, the price is leaning more toward the bearish side. The support trendline around $52.5k will be crucial if BTC drops further.
Be cautious and do thorough research before investing. If you're using leverage, make sure to set a stop loss.
Trade safely.
Regards,
Team Dexter.
Note
BTC Update: Warning Already Given!
We can see the bearish move on BTC. The price is currently at $56.7k and is likely to go further down according to our analysis.
The RSI still has some room to reach the oversold zone, indicating the continuation of the bearish trend.
Once the drop occurs, the support level between $50.6k and $52.5k must hold strong. A close below this range could be devastating for BTC.
Regarding a bullish move, only a miraculous inflow of funds could pump the price from the current market price (CMP). Otherwise, according to the analysis, BTC remains bearish on the higher timeframe.
Be cautious and do thorough research before investing.
Regards,
Team Dexter
#Crypto #BTCUSDT
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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.