The crypto market looks bullish in the long run, but it has been consolidating in the short term. BTC's price movement is being compressed for a good move in the short term. The SMA 25/150 is also giving a long signal.
Any Rally in the medium/long term requires it to break the 45000 mark, While any breakdown & closure below 38000 can harm the bitcoin rally in the medium/long term.
Until it stays within the range the supports and resistance marked in the graph are important levels to look for.
Target profit, stop loss, Risk Reward Ratio, and Position Size as per risk-taking potential.
The Market Fundamentals and Overall Crypto Market Sentiment should also be considered before any action.
Note: Not Investment/Trading Advice. Purely Personal Views. DYOR Before investing or trading. Not responsible for P&L arising out of this idea.
Any Rally in the medium/long term requires it to break the 45000 mark, While any breakdown & closure below 38000 can harm the bitcoin rally in the medium/long term.
Until it stays within the range the supports and resistance marked in the graph are important levels to look for.
Target profit, stop loss, Risk Reward Ratio, and Position Size as per risk-taking potential.
The Market Fundamentals and Overall Crypto Market Sentiment should also be considered before any action.
Note: Not Investment/Trading Advice. Purely Personal Views. DYOR Before investing or trading. Not responsible for P&L arising out of this idea.
