Bitcoin / TetherUSUpdated BTC bounced from resistance
BTC managed to reach 39.2k but wasnt able to break and dropped, Meta (Facebook parent company) stock dropped 25% today (last 24hrs), due to a poor Q1 report from them, which is the reason for todays weakness.
Global market is also showing weakness.
According to chart, BTC is still stuck in the downtrend (falling wedge), this pattern needs to be broken and will make BTC very bullish if it is. $39-41k is the major resistance and $33-35.5k is current support levels, with 30k being a major support. Entries are possible in either a breakout or when BTC touches the support.
Trade between the lines, trade safely
Global market is also showing weakness.
According to chart, BTC is still stuck in the downtrend (falling wedge), this pattern needs to be broken and will make BTC very bullish if it is. $39-41k is the major resistance and $33-35.5k is current support levels, with 30k being a major support. Entries are possible in either a breakout or when BTC touches the support.
Trade between the lines, trade safely
Note
Forgot to add that RSI is currently on support line so bounce is possible here.Note
Please let me know if you'd like me to look at a coin:)
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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.