Hello everyone
Before we start discussion, it is my pleasure to read your opinion on this post's comment section and support this idea with your likes if you enjoyed it !
I shown the expected movement of the price at my last analysis of Bitcoin. the price almost moved as I expected. you can first read previous analysis from its link below.
BTCUSDT trend still is down.
the last step of buyers show weakness and the price reaches very strong and important resistant zone.
At this resistant zone you can support the idea of short selling for another round of downtrend.
if you short, you can place your stop loss above the resistant line that shown in the chart.
target of this short sell is about 42,000 $ but you can first break even your trade and then trail your stop.
please remember any analysis can be failed. so, manage your risk and respect your stop loss.
Before we start discussion, it is my pleasure to read your opinion on this post's comment section and support this idea with your likes if you enjoyed it !
I shown the expected movement of the price at my last analysis of Bitcoin. the price almost moved as I expected. you can first read previous analysis from its link below.
BTCUSDT trend still is down.
the last step of buyers show weakness and the price reaches very strong and important resistant zone.
At this resistant zone you can support the idea of short selling for another round of downtrend.
if you short, you can place your stop loss above the resistant line that shown in the chart.
target of this short sell is about 42,000 $ but you can first break even your trade and then trail your stop.
please remember any analysis can be failed. so, manage your risk and respect your stop loss.
Comment:
I will update this analysis in my next one.