Hello everyone, welcome to this BTC update. For the past few days, BTC is trading in a rangebound zone of $40-$44k. At $44-$45k, a big resistance is formed and bulls are trying hard to break this resistance but fail every time.
So what now? Are we break this resistance this time or are we again going to visit $40k?
Let's get to the chart first. I'll keep it short and simple. BTC is trading in a falling wedge pattern and is currently in the resistance zone. Good support is made at $40k and BTC bounced 4 times from this support in the past few days. BTC is not looking good now and all the bad news came out in the market like china fud so If we again going to visit this support then IMO bulls are not able to hold this support this time and we can see the price at our next support which is at $38k.
So what we should do now? Avoid leverage trading until we get any confirmation and try to accumulate good coins (Like ETH, DOT, TRX, WTC, etc.) on spot as low as possible.
Do you also think we can visit $38k?
If you like this idea then hit the like button and also share your views in the comments section.
This isn't financial advice. DYOR before investing.
Thank you.
So what now? Are we break this resistance this time or are we again going to visit $40k?
Let's get to the chart first. I'll keep it short and simple. BTC is trading in a falling wedge pattern and is currently in the resistance zone. Good support is made at $40k and BTC bounced 4 times from this support in the past few days. BTC is not looking good now and all the bad news came out in the market like china fud so If we again going to visit this support then IMO bulls are not able to hold this support this time and we can see the price at our next support which is at $38k.
So what we should do now? Avoid leverage trading until we get any confirmation and try to accumulate good coins (Like ETH, DOT, TRX, WTC, etc.) on spot as low as possible.
Do you also think we can visit $38k?
If you like this idea then hit the like button and also share your views in the comments section.
This isn't financial advice. DYOR before investing.
Thank you.
