Hello traders, I hope your weekend went well. Here's a quick update on BTC.
Timeframe: 3 hours.
Preview: In our previous update, we discussed the bounce back on BTC from the $19.2k support level. Unfortunately, it didn't go according to plan. But the 3 hours chart is still showing something positive.
Update: My previous 3 hours update still remains valid compared to the 4 hours chart. In this 3 hours TF, BTC is still holding the supporting trendline which is a positive thing for the market. The RSI has reached its oversold range and anytime soon we can see a good rally on BTC. This is indeed a crucial point for BTC. If BTC manages to sustain this level, we will possibly see a rally soon, if not then we can expect a further drop in the market. For spot-holding, a breakdown will be a good opportunity to accumulate BTC.
I hope this update is helpful for you all.
Trade safely.
Timeframe: 3 hours.
Preview: In our previous update, we discussed the bounce back on BTC from the $19.2k support level. Unfortunately, it didn't go according to plan. But the 3 hours chart is still showing something positive.
Update: My previous 3 hours update still remains valid compared to the 4 hours chart. In this 3 hours TF, BTC is still holding the supporting trendline which is a positive thing for the market. The RSI has reached its oversold range and anytime soon we can see a good rally on BTC. This is indeed a crucial point for BTC. If BTC manages to sustain this level, we will possibly see a rally soon, if not then we can expect a further drop in the market. For spot-holding, a breakdown will be a good opportunity to accumulate BTC.
I hope this update is helpful for you all.
Trade safely.
