Hello folks, welcome to my BTC update.
If you are viewing my post for the first time then do not forget to like and follow. I share updates on the crypto market including margin trading, futures, spot, and scalping. All ideas are my biased opinion and I invest in my own risk. I don't force anyone to buy or sell, I simply share my ideas absolutely for free and it is your sole decision whether to trade on it or use it to understand the market.
Let's get back to the chart.
BTC is yet again at the same resistance where it was before. The last time BTC got rejected and it went all the way from $42.5k to $37.5k and a difference of $5k. A 12% drop in 4 days. The current scenario is resembling the same and even if BTC manages to break through it, we have another strong resistance at $44k eagerly waiting for BTC to reach. The RSI is already in the overbought range so it will be a wise decision to books profits and keep your SL tight.
Let me know what you think about this idea and if you like it then do share the link wherever you can. Let this idea reach as many traders as possible.
I will cover more on this in the coming days until then stay safe and trade well.
Thank you.
If you are viewing my post for the first time then do not forget to like and follow. I share updates on the crypto market including margin trading, futures, spot, and scalping. All ideas are my biased opinion and I invest in my own risk. I don't force anyone to buy or sell, I simply share my ideas absolutely for free and it is your sole decision whether to trade on it or use it to understand the market.
Let's get back to the chart.
BTC is yet again at the same resistance where it was before. The last time BTC got rejected and it went all the way from $42.5k to $37.5k and a difference of $5k. A 12% drop in 4 days. The current scenario is resembling the same and even if BTC manages to break through it, we have another strong resistance at $44k eagerly waiting for BTC to reach. The RSI is already in the overbought range so it will be a wise decision to books profits and keep your SL tight.
Let me know what you think about this idea and if you like it then do share the link wherever you can. Let this idea reach as many traders as possible.
I will cover more on this in the coming days until then stay safe and trade well.
Thank you.
Warned you about this. BTC got rejected exactly from the resistance I was talking about. We have two major supports, one is at $41k and another one at $40.2k. Let's see if BTC can hold these support levels.