Hello traders, welcome to this BTC update in a higher timeframe.
Timeframe: 2 weeks.
Recap: In our previous weekly update, we discussed BTC either holding the $19k support level or a drop-down below it. It turns out that BTC is still holding the support level.
Update: In the lower timeframe, we may see BTC pumping but the higher timeframe says a whole different story. The two straight white lines say it all. BTC reaching $30k could be possible but once it does reach there, we have to be careful cause that will be a strong resistance area and a decisive point for the market. The market may seem good in a lower timeframe but if we zoom out and see a bigger picture, the danger still hovers around. Let's not forget that BTC has already broken down below the supporting trendline and the only thing that is holding the price is the horizontal supporting trendline.
Key levels: $19k Support.
Note: All ideas and updates are my personal opinion and research. I don't give financial advice to anyone so do not consider this as financial advice. All my updates are for educational purposes only.
This is all I have to say from a long-term perspective. Do let me know your thoughts and ideas in the comments.
Thank you so much for supporting me.
God bless and trade safely.
Timeframe: 2 weeks.
Recap: In our previous weekly update, we discussed BTC either holding the $19k support level or a drop-down below it. It turns out that BTC is still holding the support level.
Update: In the lower timeframe, we may see BTC pumping but the higher timeframe says a whole different story. The two straight white lines say it all. BTC reaching $30k could be possible but once it does reach there, we have to be careful cause that will be a strong resistance area and a decisive point for the market. The market may seem good in a lower timeframe but if we zoom out and see a bigger picture, the danger still hovers around. Let's not forget that BTC has already broken down below the supporting trendline and the only thing that is holding the price is the horizontal supporting trendline.
Key levels: $19k Support.
Note: All ideas and updates are my personal opinion and research. I don't give financial advice to anyone so do not consider this as financial advice. All my updates are for educational purposes only.
This is all I have to say from a long-term perspective. Do let me know your thoughts and ideas in the comments.
Thank you so much for supporting me.
God bless and trade safely.
