Hello traders, it was an amazing rebound we witnessed on BTC. Here's a quick update on BTC in a daily timeframe. I bet you don't wanna miss it.
BTC bounced back almost 35% from the $19k support level in the last 5 days. This bounce came as a good surprise making a daily new high of $26.5k. With less than 4 hours left for the daily close, it is crucially important for BTC to close above the $25k resistance level. This resistance has been holding BTC back for quite long and has undoubtedly become the psychological resistance for BTC.
According to the recent analysis, here's my honest opinion to sum things up.
1. Crucial level for BTC $25k.
2. Daily close above $25k will target $32k in the upcoming days.
3. A rejection from this resistance will drop the price back to the initial support level which is $23k.
4. The RSI still got a lot of room to move forward indicating a further higher rally or maybe a quick correction and then a bounce back.
I hope this update was helpful. Thank you for reading it.
Trade safely.
BTC bounced back almost 35% from the $19k support level in the last 5 days. This bounce came as a good surprise making a daily new high of $26.5k. With less than 4 hours left for the daily close, it is crucially important for BTC to close above the $25k resistance level. This resistance has been holding BTC back for quite long and has undoubtedly become the psychological resistance for BTC.
According to the recent analysis, here's my honest opinion to sum things up.
1. Crucial level for BTC $25k.
2. Daily close above $25k will target $32k in the upcoming days.
3. A rejection from this resistance will drop the price back to the initial support level which is $23k.
4. The RSI still got a lot of room to move forward indicating a further higher rally or maybe a quick correction and then a bounce back.
I hope this update was helpful. Thank you for reading it.
Trade safely.
BTC Update: BTC is moving as expected. the daily close is above the $25k resistance which is now support for BTC. From this point, BTC should maintain the $25k support level to push the price further. I am still expecting BTC close to $31k and maintaining the $25k support. If you guys have missed entering BTC then wait for the correction, and place your orders close to $25k to $26k.
DYOR before investing.
Trade safely, guys.