After the last daily movement, BTC held well above 44K and rebound again to 48K ( We bought BTC from $44500 and closed at 45800/$46500)
Current movement: Daily TF shows a good close above 44K with a third rebound from this area during this week, which makes 44K a psychological barrier for traders in the current time, although that, there`s no strong bullish reaction from this zone yet and if we bear in mind HTF (Higher Time frames) we will see a weak performance from bulls in the current Momentum!!
for now, the price ranging between 50/44K below bearish trend from 58K which makes 50K as main resistance for the short term movement, and if bulls breakout this level and close above it, this will help BTC price to push up to 52/54K again ( resistance for the mid-term movement) but if they fail and btc breakdown 44K we will see another sell-off to 41K/38K (Support)
Current action: we will wait for direction confirmation before taking any action.
How we see the next movement we looking for a bounce from this bearish trend line and this zone between 48/49K to 46/44K again for short-term movement. For the mid-term move, we still keep 42/37K as a scalping area and 31/29K as a good potential area to buy btc it from it. (this point of view will fail if BTC reclaims 56K and close above it daily or weekly.)
Remember, The person who is obsessed with bullish thought can extract 10000 scenarios for bullish movement and the same with a bearish person. for us, we extract both sides and we define the best buy /sell zone and trade based on that, and what we care about is what happens.
Ps: We don't short btc or using leverage or trading BLV tokens!! our signals for spot trading only. Also, The TA updates is an explanation for market movement(not mean buy or sell) We will tell you to buy or not through a clear signal with clear targets and stop-loss risk management, etc, not anything else.
This is not financial advice, The purpose of these Charts to give you an idea about coin movement (not buy or sell signal) so before following any idea be sure to do your own research, and follow your risk management. Also, the information we mentioned here is a personal effort that is subject to success or failure and we welcome constructive criticism.
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Good luck to all. we ask Allah reconcile and repay🙏