Welcome members, old and new ones to this update on BTC.
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.
In a battle between bullish and bearish, we didn't even realize that BTC was moving in a sideways direction. Yes, BTC has been consolidating between $37.7k to $40k for the last 10 days which means a big move is coming soon.
The chart shows a rejection from the $40k resistance level but in the lower end, the 21 MA is holding this support. The RSI is gaining momentum showing a bullish divergence. Once BTC breaks through this $40k resistance level then we may see BTC all the way to $44k. A rejection on the other hand will still hold the support under the support range if not then $35k.
I am gonna accumulate BTC on spot if the next candle forms a green and bullish movement or if it drops back to the support range. I will also accumulate more if BTC dips further down way down to the $35k support level. I am keeping my exit level at $33.8k and my target at $43.8k.
Note: This is not financial advice. This trade setup is based on my T.A and I am risking my own money on this trade. I am reliable for my own losses and profits. So, trade as per your preference.
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.
In a battle between bullish and bearish, we didn't even realize that BTC was moving in a sideways direction. Yes, BTC has been consolidating between $37.7k to $40k for the last 10 days which means a big move is coming soon.
The chart shows a rejection from the $40k resistance level but in the lower end, the 21 MA is holding this support. The RSI is gaining momentum showing a bullish divergence. Once BTC breaks through this $40k resistance level then we may see BTC all the way to $44k. A rejection on the other hand will still hold the support under the support range if not then $35k.
I am gonna accumulate BTC on spot if the next candle forms a green and bullish movement or if it drops back to the support range. I will also accumulate more if BTC dips further down way down to the $35k support level. I am keeping my exit level at $33.8k and my target at $43.8k.
Note: This is not financial advice. This trade setup is based on my T.A and I am risking my own money on this trade. I am reliable for my own losses and profits. So, trade as per your preference.
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.
