In a recent post, I mentioned that Bitcoin could rise and potentially reach a new all-time high (ATH). However, for this to happen, the key support at 63,500 must hold.
At the beginning of the month, the NFP report led to a break below this support, causing the price to tumble below 50,000 in the days that followed. After a typical correction, the price climbed back above 60,000, but it was unable to reclaim the broken support level, indicating that further losses could be on the horizon.
My strategy is to sell any rallies near the 60,000 zone, targeting the recent low below 50,000.
At the beginning of the month, the NFP report led to a break below this support, causing the price to tumble below 50,000 in the days that followed. After a typical correction, the price climbed back above 60,000, but it was unable to reclaim the broken support level, indicating that further losses could be on the horizon.
My strategy is to sell any rallies near the 60,000 zone, targeting the recent low below 50,000.
📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
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.
📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
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.