Hello everyone, if you like the idea, do not forget to support it with a like and follow.
Welcome to this quick BTC update. Currently, BTC is trading around the $26.8k level. It is forming a descending channel in 1hr time frame.
If we look at the higher time frame then it breaks below the important support of $26.8k which is a bearish sign for me. Now, the next important support area is around $24k-
25K
Now, if we look at the lower time frame then there is a possibility that we see a quick bounce on Sunday to trap more retailers and dump again next week.
Observe the chart carefully to know more.
Invalidation:- If we got a weekly close above $27.2k
If you like this idea then do support it with like and follow.
Also, share your views in the comment section.
Thank You!
Welcome to this quick BTC update. Currently, BTC is trading around the $26.8k level. It is forming a descending channel in 1hr time frame.
If we look at the higher time frame then it breaks below the important support of $26.8k which is a bearish sign for me. Now, the next important support area is around $24k-
25K
Now, if we look at the lower time frame then there is a possibility that we see a quick bounce on Sunday to trap more retailers and dump again next week.
Observe the chart carefully to know more.
Invalidation:- If we got a weekly close above $27.2k
If you like this idea then do support it with like and follow.
Also, share your views in the comment section.
Thank You!
BTC perfectly rejected the mentioned resistance level and made a low of $26.8k level.
Now holding the $26.8k and might see some bounce again up to the $27.7k-$27.8k level but in any case we break below the $ 26.8k level then more downside move is expected.
Will keep updating you.