BITCOIN: BROKE DOWN BELOW THE SUPPORT.
Hello traders, here's a quick update on BTC in 8 hours.
Recap: In my previous update, I mentioned 21k to be a support zone for BTC. It did try to stay above it but ultimately failed to hold it.
Update: The current scenario isn't looking suitable for BTC and if it continues to drop then we have support at 19k. The interesting thing to see is even after this drop the RSI is making a bullish divergence. Can this be a fakedown? Maybe. If not then 19k could possibly be good support for BTC.
I have been accumulating BTC lately and I will continue with my accumulation instead of closing it.
Let me know what you guys are thinking about this recent drop.
Trade safely.
Recap: In my previous update, I mentioned 21k to be a support zone for BTC. It did try to stay above it but ultimately failed to hold it.
Update: The current scenario isn't looking suitable for BTC and if it continues to drop then we have support at 19k. The interesting thing to see is even after this drop the RSI is making a bullish divergence. Can this be a fakedown? Maybe. If not then 19k could possibly be good support for BTC.
I have been accumulating BTC lately and I will continue with my accumulation instead of closing it.
Let me know what you guys are thinking about this recent drop.
Trade safely.
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