Hello traders, I hope your weekend was good. Here's a quick update on BTC in a lower TF.
Timeframe: 4 hours.
Update: In my previous update, I clearly used the word 'retest' and technically, it was a clear retest and then a drop. This weekly close doesn't look good at all for BTC. It is quite possible that we will see BTC reaching the lower support level between 20.1k to 20.7k which is an important support level for BTC. BTC is already -3.3% down and with the FED and GDP news coming in, if it turns out to be negative then God knows where we will see BTC at.
Conclusion: For now I am keeping my hands on short and won't go long until and unless there's any bullish confirmation. Be watchful with your long positions, guys. Keep your SL tight and save your portfolio as much as a possible cause in trading saving your portfolio is also a profit.
I will update more on this until then trade safely.
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