BITCOIN: CREATING NEW SUPPORT LEVELS.
Hello traders, I hope you all are doing well with your health and your trades. Here's a quick update on BTC in a daily timeframe.
BTC has shown some rejection lately which is close to -6% in a single day. The denial may continue but only if it can break below the support 1 level at 20.35k. If BTC breaks down below the S1 level, we can expect the price to reach 19k and then a possible bounce back.
For now, if BTC maintains the support 1 level, it needs a breakout above 21.5k to continue a higher rally.
In long term, I am bullish on BTC and if BTC shows some correction then I will accumulate more.
That's it, for now. I will update BTC in a shorter timeframe as well.
Thank you for reading. Trade safely.
BTC has shown some rejection lately which is close to -6% in a single day. The denial may continue but only if it can break below the support 1 level at 20.35k. If BTC breaks down below the S1 level, we can expect the price to reach 19k and then a possible bounce back.
For now, if BTC maintains the support 1 level, it needs a breakout above 21.5k to continue a higher rally.
In long term, I am bullish on BTC and if BTC shows some correction then I will accumulate more.
That's it, for now. I will update BTC in a shorter timeframe as well.
Thank you for reading. Trade safely.
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