BTCUSDT : SHOULD YOU BE WORRIED ??
Hello !!
Welcome to the quick update of BTCUSDT. As posted in my last chart, BTC was taking major support from 39200 again and again and was making a move until 40000. But, the move didn't sustain and there were very less buyers at the 39300 level. After taking multiple support from 39300, it eventually broke it and went all the way until 38620.
As of now, the 39300 level has turned into the new resistance and needs to break in order to make a move further. We saw some buyers at the 38620 level which pushed the price to 39200, as of now we can see that BTC is retesting the support turned resistance and there can be more downside momentum.
The important levels are marked in the chart. I expect BTC to retest 39300 and again dump until 37600 before making a move upside. Please stay vigilant of your trades and wait for confirmation and the right moment to enter any trade.
This is not financial advice, please do your own research before investing and we are not responsible for any of your losses or profits.
Welcome to the quick update of BTCUSDT. As posted in my last chart, BTC was taking major support from 39200 again and again and was making a move until 40000. But, the move didn't sustain and there were very less buyers at the 39300 level. After taking multiple support from 39300, it eventually broke it and went all the way until 38620.
As of now, the 39300 level has turned into the new resistance and needs to break in order to make a move further. We saw some buyers at the 38620 level which pushed the price to 39200, as of now we can see that BTC is retesting the support turned resistance and there can be more downside momentum.
The important levels are marked in the chart. I expect BTC to retest 39300 and again dump until 37600 before making a move upside. Please stay vigilant of your trades and wait for confirmation and the right moment to enter any trade.
This is not financial advice, please do your own research before investing and we are not responsible for any of your losses or profits.
Comment:
BTC bounced perfectly from 38200. It broke 39300 and is currently trading at 40300. It hasn't been retested again before moving up. It will take a minor retest before moving up further. Once the retest to 39300 is done again, we will be set to take new trades.
I hope you are safe with your positions and waiting for the right time to enter any trades.