Bitcoin / TetherUSShort
BTC BOUNCING FROM SUPPORT! WHAT HAPPENS NEXT?
Updated
Welcome to this quick BTC update. Currently, bitcoin bouncing from the support1 which is around $47200. All the support and resistances are given in the chart. Though, I"ll brief in short. Here are two scenarios that will be formed. According to scenario 1 If BTC holds this support of $47,200 then it will pump to the $48,500 where our next resistance lies.
The support zone of $47,200 was tested multiple times and you know when the price hit a support and resistance multiple times then eventually it breaks. So if it breaks then our next support is around $45,500 and the BTC price follows our scenario 2. IMO scenario2 is most likely but let's wait and watch where the market goes.
If you holding Alts on spot then hold and if you opened a leveraged trade then put stop loss on all your trades.
Do appreciate your likes and comments. Share your ideas. Let's learn together.
This is not financial advice. DYOR before investing.
Thank you!
The support zone of $47,200 was tested multiple times and you know when the price hit a support and resistance multiple times then eventually it breaks. So if it breaks then our next support is around $45,500 and the BTC price follows our scenario 2. IMO scenario2 is most likely but let's wait and watch where the market goes.
If you holding Alts on spot then hold and if you opened a leveraged trade then put stop loss on all your trades.
Do appreciate your likes and comments. Share your ideas. Let's learn together.
This is not financial advice. DYOR before investing.
Thank you!
Note
Still holding support1 and tested again and again. Let's see how long it holds. Do not open new positions now and if you are holding some then hold it with tight stop loss.Note
Support is broken. Scenario 2 is following and I told you the same. Hope you put tight stop loss in all your trades and save from losses. Now keep an eye on the next support.
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.