BTC is preparing to test support level at $31K
Hello there,
I am trying to analyze BTC for the next trade. And here are what I see:
- The Supertrend is bearish now. This trend happened for a while.
- It passed under the SMA 20 line and lower envelope.
- It is testing the Support Level at $40K
- The Volume is still low but it is rising. It should move up to pass the Zero Line to confirm the trend soon.
==> So I believe the BTC price is going to down. It will break the $40K Support level and go to the next Support level at $31K within 2 weeks.
However, "Trade what you see, NOT what you think.", I will wait to see the D1 candle close at ~$40K and/or the Volume Oscillator passes over the Zero line to entry a Short position for a confident trade.
I intent to Take Profit at ~$33K if the momentum is not really high. Otherwise, I expect to Take Profit at ~$29K, when the momentum makes the price dump to this level (and then bump back a a little).
This is just my personal idea and would like to share with you, not financial advise.
Lucky Trading!
I am trying to analyze BTC for the next trade. And here are what I see:
- The Supertrend is bearish now. This trend happened for a while.
- It passed under the SMA 20 line and lower envelope.
- It is testing the Support Level at $40K
- The Volume is still low but it is rising. It should move up to pass the Zero Line to confirm the trend soon.
==> So I believe the BTC price is going to down. It will break the $40K Support level and go to the next Support level at $31K within 2 weeks.
However, "Trade what you see, NOT what you think.", I will wait to see the D1 candle close at ~$40K and/or the Volume Oscillator passes over the Zero line to entry a Short position for a confident trade.
I intent to Take Profit at ~$33K if the momentum is not really high. Otherwise, I expect to Take Profit at ~$29K, when the momentum makes the price dump to this level (and then bump back a a little).
This is just my personal idea and would like to share with you, not financial advise.
Lucky Trading!