Hello traders, I hope you guys are doing great. Here's an update on BTC in a lower timeframe.
Timeframe: 4 hours.
Update: BTC is still maintaining the support level of $18.7k which so far looks good. Yes, there was a so-called 'panic situation' last week where people started assuming that BTC will drop and bleed badly but it managed to deny further rejection and got back into the trendline within no time. We saw a nice jump in BTC but soon it got rejected as well, a pure case of pump and dump.
The current price is hovering around the $19.1k range which creates a dilemma between a higher rally and rejection. If we see another rejection on BTC then it may possibly drop down to the support level. To see a good bullish rally, BTC must break out above the 21 MA ($19.3k). It will be wise to wait for a confirmation and then make your move.
I have closed my previous leverage positions and now holding the spot one. Also, I have opened a new leverage position and will accumulate the bottom if BTC drops down.
That's it for now. Thank you for your support and likes. It means a lot to me.
Trade safely.
Timeframe: 4 hours.
Update: BTC is still maintaining the support level of $18.7k which so far looks good. Yes, there was a so-called 'panic situation' last week where people started assuming that BTC will drop and bleed badly but it managed to deny further rejection and got back into the trendline within no time. We saw a nice jump in BTC but soon it got rejected as well, a pure case of pump and dump.
The current price is hovering around the $19.1k range which creates a dilemma between a higher rally and rejection. If we see another rejection on BTC then it may possibly drop down to the support level. To see a good bullish rally, BTC must break out above the 21 MA ($19.3k). It will be wise to wait for a confirmation and then make your move.
I have closed my previous leverage positions and now holding the spot one. Also, I have opened a new leverage position and will accumulate the bottom if BTC drops down.
That's it for now. Thank you for your support and likes. It means a lot to me.
Trade safely.
