BTC/USD (Retest Previous Support?)

💎Technical Analysis Summary💎


BTC/USD

-Bitcoin defending the Fib 0.5 level or 40k dollar zone
-The price bounce up by almost 12% today which is a good sign
-We can see many altcoins are also finding their new support area
-This could be a good positive view in the coming days
-Bitcoin is about to retest its previous support of around 44k-47k dollars
-If we can see the price holding on that region, potential to retest 49k level
-Otherwise, a pullback is likely to happen next week and the overall market will be affected
-I am looking for a new trade but not too optimistic because of the current condition
-This is not the right time to go full force in trading but to strictly follow your risk management



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