BITCOIN: A QUICK COMEBACK.
Hello traders, I hope you all are doing good. There's a lot happening in the market today. In a lower timeframe, the market is completely messed up but in a higher timeframe, you can see a crystal clear scenario.
Timeframe: 12 hours.
Update: After the daily close, we saw a sudden drop of -5.45% ($19174 to $18131), and right after the drop, a quick comeback of 6% ($18131 to $19225). The drop helped some wise traders to get into BTC at around 18k. For quite some time, BTC has been following both the support and resistance trendline in a disciplined manner. We can expect BTC to reverse the trend but only if we see a breakout above the upper trendline i.e., at 20.2k.
BTC still looks under control in this 12 hours chart and until & unless it is above the support level, we are good to go.
Note: The 12 hours chart is completely different from the 3 hours or 4 hours chart.
I hope this idea is helpful to you all. Trade safely.
Timeframe: 12 hours.
Update: After the daily close, we saw a sudden drop of -5.45% ($19174 to $18131), and right after the drop, a quick comeback of 6% ($18131 to $19225). The drop helped some wise traders to get into BTC at around 18k. For quite some time, BTC has been following both the support and resistance trendline in a disciplined manner. We can expect BTC to reverse the trend but only if we see a breakout above the upper trendline i.e., at 20.2k.
BTC still looks under control in this 12 hours chart and until & unless it is above the support level, we are good to go.
Note: The 12 hours chart is completely different from the 3 hours or 4 hours chart.
I hope this idea is helpful to you all. Trade safely.
coincall.com/r/43438887
Trade crypto options and futures on Coincall for great onboarding bonuses and a premium trading experience.
Trade crypto options and futures on Coincall for great onboarding bonuses and a premium trading experience.
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.