BITCOIN WEEKLY UPDATE: IS THIS THE BOTTOM??
Hello traders, I hope you all are doing good. Here's a quick update on BTC in the weekly timeframe.
This is it, BTC is close to the support level of 19.5k from where many of us are expecting a rebound. Both the horizontal and lower trendline indicates 19.5k to 20k to be a strong support range for BTC. If BTC manages to hold this level and bounces back then we can expect a higher rally. But if it fails and breaks down below the support level then the only support level I can see is 11.5k to 12k.
The upcoming weekly close is going to be an important one for the market. We are at the end of the 2nd quarter and already we have seen a lot happening in the market. Hopefully, the 3rd quarter will be positive for us all.
I am in the ‘No Trade Zone’ right now. If there are any opportunities then I will share my updates. Until then, trade safely.
This is it, BTC is close to the support level of 19.5k from where many of us are expecting a rebound. Both the horizontal and lower trendline indicates 19.5k to 20k to be a strong support range for BTC. If BTC manages to hold this level and bounces back then we can expect a higher rally. But if it fails and breaks down below the support level then the only support level I can see is 11.5k to 12k.
The upcoming weekly close is going to be an important one for the market. We are at the end of the 2nd quarter and already we have seen a lot happening in the market. Hopefully, the 3rd quarter will be positive for us all.
I am in the ‘No Trade Zone’ right now. If there are any opportunities then I will share my updates. Until then, trade safely.
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