BITCOIN: CREATING NEW SUPPORT.
BTC Update: BTC broke below the $22.3k support level and the price went all the way down to $21.6k. We can see that BTC is creating new support at $21.6k and if BTC manages to hold this level, we can expect a bounce back from here.
On the other hand, if BTC breaks down below the current support, then $20.6k is expected. The RSI is under the oversold area and most likely BTC should bounce back.
Key points:
1. $21.6k support.
2. $20.6k possible drop if BTC breaks $21.6k.
3. Bounce back expected.
What's your view on the market? Do share your thoughts in the comments.
Thank you for reading. Trade safely.
On the other hand, if BTC breaks down below the current support, then $20.6k is expected. The RSI is under the oversold area and most likely BTC should bounce back.
Key points:
1. $21.6k support.
2. $20.6k possible drop if BTC breaks $21.6k.
3. Bounce back expected.
What's your view on the market? Do share your thoughts in the comments.
Thank you for reading. Trade safely.
BTC update:
BTC is still holding on to the support level of $21.6k. I still think that a bounce is possible only if BTC manages to hold the support level. If BTC drops down below $21.6k then we can expect a further drop up to $20.6k where we have another support level.
Key point:
* The $21.6k support level.
More updates coming up.
Trade safely.