Welcome to this quick update on BTC in 2 hours.
BTC is holding support at 21 MA in 2 hours timeframe and the indication is leaning towards the rejection side. The pressure is equally distributed from both the bulls and the bears. If BTC gets rejected from this support then it may possibly go back to test the $39k-$40k levels but if BTC breaks out from here then $43k to $44k is possible.
This is a decisive moment for BTC. If you are already long on BTC then you guys can hold it and accumulate more at $39k (but only after confirmation). And if you are thinking to buy now then you better wait for the retest.
That's my suggestion/opinion and not financial advice. You can do your own analysis before making a decision.
I will update more on it. Until then trade safely.
BTC is holding support at 21 MA in 2 hours timeframe and the indication is leaning towards the rejection side. The pressure is equally distributed from both the bulls and the bears. If BTC gets rejected from this support then it may possibly go back to test the $39k-$40k levels but if BTC breaks out from here then $43k to $44k is possible.
This is a decisive moment for BTC. If you are already long on BTC then you guys can hold it and accumulate more at $39k (but only after confirmation). And if you are thinking to buy now then you better wait for the retest.
That's my suggestion/opinion and not financial advice. You can do your own analysis before making a decision.
I will update more on it. Until then trade safely.
