BITCOIN: CREATING NEW SUPPORT.
Updated
BTC Update: BTC broke below the 22.3k support level and the price went all the way down to 21.6k. We can see that BTC is creating new support at 21.6k and if BTC manages to hold this level, we can expect a bounce back from here.
On the other hand, if BTC breaks down below the current support, then 20.6k is expected. The RSI is under the oversold area and most likely BTC should bounce back.
Key points:
1. 21.6k support.
2. 20.6k possible drop if BTC breaks 21.6k.
3. Bounce back expected.
What's your view on the market? Do share your thoughts in the comments.
Thank you for reading. Trade safely.
On the other hand, if BTC breaks down below the current support, then 20.6k is expected. The RSI is under the oversold area and most likely BTC should bounce back.
Key points:
1. 21.6k support.
2. 20.6k possible drop if BTC breaks 21.6k.
3. Bounce back expected.
What's your view on the market? Do share your thoughts in the comments.
Thank you for reading. Trade safely.
Comment
BTC update:
BTC is still holding on to the support level of 21.6k. I still think that a bounce is possible only if BTC manages to hold the support level. If BTC drops down below 21.6k then we can expect a further drop up to 20.6k where we have another support level.
Key point:
* The 21.6k support level.
More updates coming up.
Trade safely.
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