Hello traders, it's been a quiet weekend where BTC has been stationed at $30k and it is neither breaking out nor breaking down. We saw BTC hitting
31K
but it wasn't enough to break the ceiling. With the current price holding at $30.3k, we can expect a further rally on BTC but if it gets rejected below the 21 MA then a rejection till $28.6k is expected.
I am waiting for the daily close to get a better picture.
Note: BTC is due for a healthy correction both in a shorter and longer timeframe so be careful with leverage trading.
31K
but it wasn't enough to break the ceiling. With the current price holding at $30.3k, we can expect a further rally on BTC but if it gets rejected below the 21 MA then a rejection till $28.6k is expected. I am waiting for the daily close to get a better picture.
Note: BTC is due for a healthy correction both in a shorter and longer timeframe so be careful with leverage trading.
BTC Update:
I am still sticking with this plan. $28.6k is a possible rejection level; if the support level sustains, then a bounce back toward $31k.
I am considering a rejection below the $28.6k to be the invalidation point for the rally.