Current situation of BTC is explained on chart. All the support and resistance regions are marked. Good volume and good fundamentals are the current need of market.
The rectangular area is the strong resistance area. This must be broken down in order to go in uptrend. Good volume is required.
Looking at current situation, btc might retest 38500k zone. Be careful while taking trades.
BTC is respecting lower trend line from a long time. Let’s see what happens this time. All depends upon market news and on volume.
These are two levels which BTC can retest in coming days. Trade carefully. Do proper analysis before taking entry into any coin.
Consolidation in the marked region is necessary for BTC, in order to make its way to upward.
Consolidation between 37771-39305 is expected unless good volume comes in market. In that case we might see BTC in 40s range. 🤞
A perfect bounce from 0.618 fib level. Now it’s time to retest the 0.5 fib level. Resistance at 40838 and 42736 level.
These two arrows(one upward and one downward) shows the two major resistances which BTC has to break in order to be in uptrend with a good volume.
