BTC is likely to retest circle shown in this chart.
Reasons:-
1. The late longs are trapped. ✅
2. PA shows potential to be retesting the lower support of the channel. ✅
3. $19.2k to $20.5 is the important area of intersection. ✅
4. 50 MA support is around $20.5k bulls need to defend this level. ✅
INVALIDATION:- This chart will be invalidated if the price closes above $21,865.
This is not a financial advice. DYOR before taking any trade decisions.
Do let me know what you think in the comment section.
Hit the like button if you like this short update.
Thank you
#PEACE
Reasons:-
1. The late longs are trapped. ✅
2. PA shows potential to be retesting the lower support of the channel. ✅
3. $19.2k to $20.5 is the important area of intersection. ✅
4. 50 MA support is around $20.5k bulls need to defend this level. ✅
INVALIDATION:- This chart will be invalidated if the price closes above $21,865.
This is not a financial advice. DYOR before taking any trade decisions.
Do let me know what you think in the comment section.
Hit the like button if you like this short update.
Thank you
#PEACE
Trade active
Perfectly followed, since the impulsive wave was too quick we have a higher retest price.
If BTC prints some green candles here on the resistance turned support trendline,
I think $20.3k would be a good point to long.
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Daily Signals:- telegram.me/thecryptorphic
Coincatch:- bit.ly/15000USDTBonus
BLOFIN - bit.ly/Cryptorphic
Binance: bit.ly/cryptorphic1000
ELITES: bit.ly/Join_elite
Coincatch:- bit.ly/15000USDTBonus
BLOFIN - bit.ly/Cryptorphic
Binance: bit.ly/cryptorphic1000
ELITES: bit.ly/Join_elite
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.