BTC/USDT (Hold Daily Support?)

💎Technical Analysis Summary💎


BTC/USDT

-Bitcoin is back at its daily key support area today
-In terms of price action, this is technically bad because the support gets weaker
-We can see this area has been rested multiple times since early May or a few weeks back
-Now, the bulls are trying to defend this region again and the bears can look for another oppurtunity
-I opened a few trades recently but decided to close them at a loss due to this immediate market shift
-This is crucial for the crypto space because once this level is broken downwards, expect tons of fear in the market
-We have to play defense and wait for any sign of strength before re-entering for a trade
-As we all know, the S&P500 is also down recently which is highly affecting BTC price movement
-Be cautious and do not risk a trade without a proper stop loss location




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