Hello traders, welcome to my new BTC update. For today's analysis, I am gonna use 12 hours chart to get a clear picture of BTC.
If you are viewing my post for the first time then do not forget to like and follow. I share updates on the crypto market including margin trading, futures, spot, and scalping.
I guess we don't need a lot of explanation here. Looking at the higher timeframe chart, we can figure out where BTC is heading next. In a lower timeframe, BTC may fluctuate making long greens and red but in higher timeframes, looks like BTC is already sinking in.
Currently, the support which is holding BTC is the $43k support level. If BTC manages to bounce back from this level then it still needs to break above the $44.6k to $45k resistance level. Further rejection will drop the price to another support level which is at $41k and in a worst-case scenario, the ultimate support level at $38k.
That's it from my end. I will update more on this as the market changes its direction.
Until then trade safely.
Thank you.
If you are viewing my post for the first time then do not forget to like and follow. I share updates on the crypto market including margin trading, futures, spot, and scalping.
I guess we don't need a lot of explanation here. Looking at the higher timeframe chart, we can figure out where BTC is heading next. In a lower timeframe, BTC may fluctuate making long greens and red but in higher timeframes, looks like BTC is already sinking in.
Currently, the support which is holding BTC is the $43k support level. If BTC manages to bounce back from this level then it still needs to break above the $44.6k to $45k resistance level. Further rejection will drop the price to another support level which is at $41k and in a worst-case scenario, the ultimate support level at $38k.
That's it from my end. I will update more on this as the market changes its direction.
Until then trade safely.
Thank you.
