Welcome folks to my new update on BTC.
If you are viewing my post for the first time then do hit the like button and graciously follow as well. I share updates on the crypto market including margin trading, futures, spot, and scalping. All ideas are my biased opinion and I invest in my own risk. I don't force anyone to buy or sell, I simply share my ideas absolutely for free and it is your sole decision whether to trade on it or use it to understand the market.
Coming back to the chart, BTC is showing some retest here and the current price is somewhere in between the upper and lower trendline. I am expecting a retest back to $40k or in the worse case, $38.2k. Breaking below this trendline will invalidate this chart and we will have to analyze the chart in a different way. Entering into a trade only after the bounce is confirmed is highly recommended. If you are already into a trade then you can hold it up to the invalidation level. If you are in profit then book your profits.
All my holdings are in the spot, I have exited all my leverage trades in profit and I am gonna hold my spot positions for now.
Let me know if you are holding any positions. Hopefully, I will be able to help you.
Do like and follow for more updates.
Thank you.
If you are viewing my post for the first time then do hit the like button and graciously follow as well. I share updates on the crypto market including margin trading, futures, spot, and scalping. All ideas are my biased opinion and I invest in my own risk. I don't force anyone to buy or sell, I simply share my ideas absolutely for free and it is your sole decision whether to trade on it or use it to understand the market.
Coming back to the chart, BTC is showing some retest here and the current price is somewhere in between the upper and lower trendline. I am expecting a retest back to $40k or in the worse case, $38.2k. Breaking below this trendline will invalidate this chart and we will have to analyze the chart in a different way. Entering into a trade only after the bounce is confirmed is highly recommended. If you are already into a trade then you can hold it up to the invalidation level. If you are in profit then book your profits.
All my holdings are in the spot, I have exited all my leverage trades in profit and I am gonna hold my spot positions for now.
Let me know if you are holding any positions. Hopefully, I will be able to help you.
Do like and follow for more updates.
Thank you.
BTC update:
BTC broke below the $40k support level. Now $38.2k could be the possible level from where BTC will bounce back. If BTC breaks this support as well then we will have a $37.6k level as the new support for BTC.