BITCOIN: MUST HOLD THIS SUPPORT.

9 thg 3, 2023

Hello traders, I hope you all are doing well. Here's a quick update on BTC in a daily timeframe.

BTC shows no progress so far. We expected a bounce back from the 22.3k level but eventually, it dropped further low toward 21.6k. Technically, 21.3k to 21.7k is a significant support level for BTC, and from this level, if it manages to bounce back, we may see BTC back to 23K to 25k. But if it drops below the support, a fall close to 18k is possible.

The SL got hit for our previous long trade setup on BTC but it is still better than holding a losing position. I have my major holdings on spot and in futures, I trade with only 15% to 20% of my entire portfolio. So, it is absolutely fine and it is still a win-win situation for me.

Key points:

1. 21.3k to 21.7k important support zone.
2. If BTC bounces back then 23K will be the initial target.
3. If BTC drops further low then 18k is likely possible.

Thank you for reading and trade safely.