BITCOIN GOT REJECTED FROM THE RESISTANCE.
Hello folks,
Here's a quick update on BTC price in 4 hours TF.
BTC got rejected from the resistance level ($38500), showed in the previous update. The weekly close was around $37900 which was below our expectations. BTC is still under the channel and according to the pattern, it may possibly drop down to $34500. The thing which is holding the price at $36900 is the lower supporting trendline. This support could be a potential bouncing area but it is on the weaker side.
I exited my BTC holdings a little late at $37300 when I saw a rejection below 21 MA. Still made good profits. I hope you guys did too.
My new strategy: I will buy back BTC in two scenarios, 1) If BTC bounces back and breaks above $38500. or 2) If BTC drops down to $34500 and confirm a bounce.
So, as for now, let us wait for the hourly close.
Until then trade safely.
Here's a quick update on BTC price in 4 hours TF.
BTC got rejected from the resistance level ($38500), showed in the previous update. The weekly close was around $37900 which was below our expectations. BTC is still under the channel and according to the pattern, it may possibly drop down to $34500. The thing which is holding the price at $36900 is the lower supporting trendline. This support could be a potential bouncing area but it is on the weaker side.
I exited my BTC holdings a little late at $37300 when I saw a rejection below 21 MA. Still made good profits. I hope you guys did too.
My new strategy: I will buy back BTC in two scenarios, 1) If BTC bounces back and breaks above $38500. or 2) If BTC drops down to $34500 and confirm a bounce.
So, as for now, let us wait for the hourly close.
Until then trade safely.
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כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.
פרסומים קשורים
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.