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Welcome to this BTC/USDT update.
BTC is still continuously dropping and there is no sign of reversal yet. But the good thing is that BTC is still holding the $42k level.
BTC has important support of 100D MA at $41,500 and this is the last hope for bulls from here. As you see in the chart how strongly this MA works. A few days before BTC breaks above this MA and now looks like it is a retest. So if BTC manages to hold this MA I'm expecting a good bounce.
In the worst case, if BTC breaks and closes below this MA then our next support is at $38k which is the lower trendline of the triangle also here is the strong weekly support.
As of now, we might see some wicks to the downside to liquidate high leverage traders but after that, I'm expecting a good upward movement this week.
What do you think about this?
Do you think we get a bounce from here or not?
Share your views in the comment section.
Thank You!
Welcome to this BTC/USDT update.
BTC is still continuously dropping and there is no sign of reversal yet. But the good thing is that BTC is still holding the $42k level.
BTC has important support of 100D MA at $41,500 and this is the last hope for bulls from here. As you see in the chart how strongly this MA works. A few days before BTC breaks above this MA and now looks like it is a retest. So if BTC manages to hold this MA I'm expecting a good bounce.
In the worst case, if BTC breaks and closes below this MA then our next support is at $38k which is the lower trendline of the triangle also here is the strong weekly support.
As of now, we might see some wicks to the downside to liquidate high leverage traders but after that, I'm expecting a good upward movement this week.
What do you think about this?
Do you think we get a bounce from here or not?
Share your views in the comment section.
Thank You!
