Hello, traders welcome to another BTC/USDT chart update.
As we can see in the above-mentioned chart that BTC got rejected from the upper red resistance zone which is the $31.8k level and moved downside by almost 10%.
BTC also broke the mid support level of $30.4k and currently trading at the price level of $29.7k.
Here according to the current PA BTC can move down again to retest the upper trend line of the triangle.
If it breaks the upper trend line then BTC will move down again to its crucial support level which BTC needs to hold in this 4hr time frame otherwise market sentiment will change again.
IMHO, we should avoid long trades in this choppy PA and wait for the right time to enter any trades.
NOTE: This is not financial advice. This is for education purposes only. I am not responsible for the profits or losses you generate from your investments.
DO YOUR RESEARCH BEFORE MAKING ANY TRADES.
Thank you.
As we can see in the above-mentioned chart that BTC got rejected from the upper red resistance zone which is the $31.8k level and moved downside by almost 10%.
BTC also broke the mid support level of $30.4k and currently trading at the price level of $29.7k.
Here according to the current PA BTC can move down again to retest the upper trend line of the triangle.
If it breaks the upper trend line then BTC will move down again to its crucial support level which BTC needs to hold in this 4hr time frame otherwise market sentiment will change again.
IMHO, we should avoid long trades in this choppy PA and wait for the right time to enter any trades.
NOTE: This is not financial advice. This is for education purposes only. I am not responsible for the profits or losses you generate from your investments.
DO YOUR RESEARCH BEFORE MAKING ANY TRADES.
Thank you.
