Hello traders, I hope you all are doing great.
Here's a quick update on BTC in 12 hours timeframe.
Preview: According to our previous update, BTC is still holding the support level and it is trying the best it can to bounce back. Due to the FOMC press release, we saw some extra drama in BTC but still, it is holding on.
Update: As BTC is maintaining the support level, it is interesting to see how the 21 MA is holding the price to rally higher. Currently, the price is exactly at the 21 MA, and this time whether BTC will break above it or below it will be a tough call. Technically, even if BTC manages to break above the 21 MA, it still needs to face the $21k resistance and then the $22k. But a rally up to that level itself will be good for the market.
Conclusion: Like I said before, until and unless BTC goes below the support level, we are good to go. Breaking down below it will be a good opportunity to accumulate.
With this thought, I would like to rest my case.
Share your thoughts and ideas if you have any. I would love to read them. And also, thank you so much for your support and motivation.
Have a blessed day.
Here's a quick update on BTC in 12 hours timeframe.
Preview: According to our previous update, BTC is still holding the support level and it is trying the best it can to bounce back. Due to the FOMC press release, we saw some extra drama in BTC but still, it is holding on.
Update: As BTC is maintaining the support level, it is interesting to see how the 21 MA is holding the price to rally higher. Currently, the price is exactly at the 21 MA, and this time whether BTC will break above it or below it will be a tough call. Technically, even if BTC manages to break above the 21 MA, it still needs to face the $21k resistance and then the $22k. But a rally up to that level itself will be good for the market.
Conclusion: Like I said before, until and unless BTC goes below the support level, we are good to go. Breaking down below it will be a good opportunity to accumulate.
With this thought, I would like to rest my case.
Share your thoughts and ideas if you have any. I would love to read them. And also, thank you so much for your support and motivation.
Have a blessed day.
