Hello folks,
I know how you feel right now. The bear pressure is intense and we don't see much volume coming in. BTC broke the lower trendline which was holding the price. Well, this is bad, and looks like by the end of this weekend we may possibly see BTC reaching $35.5k to $36k. Even if BTC has broken down below the trendline, it is still holding the Support 1 at $37900 where we have the 0.618 Fibonacci retracement level. This level is important for BTC to hold cause if this is broken then we may see BTC at the $35k level.
Things look uncertain here, it is better to stay away from taking trades for now.
I will update more on this if there is any movement.
Do like, share, and comment your ideas. A follow will be much appreciated.
Thank you and trade safely.
I know how you feel right now. The bear pressure is intense and we don't see much volume coming in. BTC broke the lower trendline which was holding the price. Well, this is bad, and looks like by the end of this weekend we may possibly see BTC reaching $35.5k to $36k. Even if BTC has broken down below the trendline, it is still holding the Support 1 at $37900 where we have the 0.618 Fibonacci retracement level. This level is important for BTC to hold cause if this is broken then we may see BTC at the $35k level.
Things look uncertain here, it is better to stay away from taking trades for now.
I will update more on this if there is any movement.
Do like, share, and comment your ideas. A follow will be much appreciated.
Thank you and trade safely.
Note
I have nothing more to say.
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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.