#Bitcoin ShortTerm Update
Bitcoin Market Update:
BTC.D spiked up last night but is now trading doij. Both Bitcoin and BTC.D trading doji.
📝 BTC.D is teasing the resistance and I expect a dip soon from here though it could take a few days as US stock indices are pushing down and different tech earnings will lead the indices for the next few days.
⚠️ Bitcoin can dip to $21,500 without a big deal as that is our support - this has been mentioned for the past week as a possibility, however, testing it will be better as it will allow Bitcoin to flip that as a support, which would be bullish. As you know $25,000 is the resistance 🤝
The US stock indices will lead the market and altcoins will follow Bitcoin.
Intraday:
The intraday chart is choppy and still trading between the intraday smaller range area.
1️⃣ A bullish breakout above $23,110 (POI) is required to get a long towards $25,000 - 🚀
Trade position setup has been provided for the above scenario with all necessary information including Entry, Targets, Stop Loss, RR & Criteria to take the trade.
2️⃣ A dip to $22,230 (POI) is also possible before getting a bullish move - 🦞
3️⃣ Below $22,230 (POI) an intraday range breakout will occur to the downside targeting $21,400 & below - 🧸
🚨 I will be carefully monitoring the market sentiment to get a trade.
Below $20,950 is a short area too. We now need to wait for the market to lead us.
BTC.D spiked up last night but is now trading doij. Both Bitcoin and BTC.D trading doji.
📝 BTC.D is teasing the resistance and I expect a dip soon from here though it could take a few days as US stock indices are pushing down and different tech earnings will lead the indices for the next few days.
⚠️ Bitcoin can dip to $21,500 without a big deal as that is our support - this has been mentioned for the past week as a possibility, however, testing it will be better as it will allow Bitcoin to flip that as a support, which would be bullish. As you know $25,000 is the resistance 🤝
The US stock indices will lead the market and altcoins will follow Bitcoin.
Intraday:
The intraday chart is choppy and still trading between the intraday smaller range area.
1️⃣ A bullish breakout above $23,110 (POI) is required to get a long towards $25,000 - 🚀
Trade position setup has been provided for the above scenario with all necessary information including Entry, Targets, Stop Loss, RR & Criteria to take the trade.
2️⃣ A dip to $22,230 (POI) is also possible before getting a bullish move - 🦞
3️⃣ Below $22,230 (POI) an intraday range breakout will occur to the downside targeting $21,400 & below - 🧸
🚨 I will be carefully monitoring the market sentiment to get a trade.
Below $20,950 is a short area too. We now need to wait for the market to lead us.
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.