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Khaledzu
Nov 16, 2021 1:37 PM

B I T C O I N | support areas Long

Bitcoin / TetherUSBinance

Description

Regarding to Bitcoin,
In my opinion we are currently standing on a solid support between 58k and 60k.
If we were to dip under 58k, next targets would be:
53-52k

but the most important zone and MUST NOT close weekly under it is 50k - 46k area.

SUMMARY:
- In daily frame 60k should hold and closing below it is negative.
- In weekly frame Bitcoin mustn't close under 46k, below it is totally bad for all the market.

There are available trades to enter on Related Ideas section

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#BTC
Looks like BTC has formed a double bottom.
We could see a bullish bounce here after:
- break above the falling wedge.
- RSI became above 50%

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Trade closed: target reached

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