Trading Idea for BTC/USDT (1-day Chart)
The BTC/USDT price on the 1-day chart is currently near its horizontal support level around 55,000 USDT, following a significant downtrend from its previous highs. This suggests a potential for either a strong rebound or further decline if the support fails. The formation resembles a head and shoulders pattern, indicating a possible bearish continuation if the price breaks below the support level.
The BTC/USDT price on the 1-day chart is currently near its horizontal support level around 55,000 USDT, following a significant downtrend from its previous highs. This suggests a potential for either a strong rebound or further decline if the support fails. The formation resembles a head and shoulders pattern, indicating a possible bearish continuation if the price breaks below the support level.
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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.