Hello traders, I hope you all are doing good. Here's a quick update on BTC in the weekly timeframe.
This is it, BTC is close to the support level of $19.5k from where many of us are expecting a rebound. Both the horizontal and lower trendline indicates $19.5k to $20k to be a strong support range for BTC. If BTC manages to hold this level and bounces back then we can expect a higher rally. But if it fails and breaks down below the support level then the only support level I can see is $11.5k to $12k.
The upcoming weekly close is going to be an important one for the market. We are at the end of the 2nd quarter and already we have seen a lot happening in the market. Hopefully, the 3rd quarter will be positive for us all.
I am in the ‘No Trade Zone’ right now. If there are any opportunities then I will share my updates. Until then, trade safely.
This is it, BTC is close to the support level of $19.5k from where many of us are expecting a rebound. Both the horizontal and lower trendline indicates $19.5k to $20k to be a strong support range for BTC. If BTC manages to hold this level and bounces back then we can expect a higher rally. But if it fails and breaks down below the support level then the only support level I can see is $11.5k to $12k.
The upcoming weekly close is going to be an important one for the market. We are at the end of the 2nd quarter and already we have seen a lot happening in the market. Hopefully, the 3rd quarter will be positive for us all.
I am in the ‘No Trade Zone’ right now. If there are any opportunities then I will share my updates. Until then, trade safely.
