BTC is picking up upward momentum without any retracement. Currently, it is trading above the $21.5k level and facing an important resistance level. BTC needs a pullback from here for a healthy upside movement. If it is rejected from here and starts to pullback then our support is at $20.5k level. If it breaks the $22k resistance without any pullback then we could see more upside movement.
But as a trader, we should wait for a decent pullback before entering long positions. This coming week is going to be highly volatile with the release of the CPI data so it's important to be cautious here.
We will keep updating you about the market.
But as a trader, we should wait for a decent pullback before entering long positions. This coming week is going to be highly volatile with the release of the CPI data so it's important to be cautious here.
We will keep updating you about the market.