BTCUSDT - Key area of resistance - No one know what will happen
BTCUSDT - Key area of resistance - No one knows what will happen
BTC is travelling through the indicated rising channel and is currently in a battle with channel resistance. If it breaks we will move higher to see another resistance at 60K. Else, we might drop towards the channel support at 48K. In between, we have the 52K support from where we might see a bounce.
The market is crazy and no one knows what will happen.
Let's not put long or short orders and let exchanges and whales know our ideas beforehand (Just kidding. I feel somehow that information is used to manipulate trading :-))
Let's take short intervals at a time (not too short -at least 4hrs and above) and see price action, adapt and make decisions with a calm mind.
Supports (green lines) and resistances (red lines) indicated. Blue lines indicate only direction and not timelines
Always follow risk management. BTC can be volatile. We have seen quite a few flash-crashes off late.
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PS: tagging as long in the midterm and not in the short term
Thanks
BTC is travelling through the indicated rising channel and is currently in a battle with channel resistance. If it breaks we will move higher to see another resistance at 60K. Else, we might drop towards the channel support at 48K. In between, we have the 52K support from where we might see a bounce.
The market is crazy and no one knows what will happen.
Let's not put long or short orders and let exchanges and whales know our ideas beforehand (Just kidding. I feel somehow that information is used to manipulate trading :-))
Let's take short intervals at a time (not too short -at least 4hrs and above) and see price action, adapt and make decisions with a calm mind.
Supports (green lines) and resistances (red lines) indicated. Blue lines indicate only direction and not timelines
Always follow risk management. BTC can be volatile. We have seen quite a few flash-crashes off late.
-------------------------------------------------------------------------------------------
If you like this idea:
1) Please follow me for more content
2) Give this idea a like so that Trading View algorithms can take this idea to more users.
-------------------------------------------------------------------------------------------
If you have comments both for and against the idea:
1) Let's exchange ideas in the comments
2) Discussions can help the community as a whole and also helps me learn a lot
PS: tagging as long in the midterm and not in the short term
Thanks
Comment:
Nothing is confirmed till we cross 60K. Lets be careful and maintain caution. 60K is psychological selling point and might cause huge volumes to be dumped