Welcome to this quick Update on BTC everyone.
Let me get straight to the chart
BTC broke below the pattern and we had a nasty weekly close.
I expected $15300 to be tested but there was a short-term demand at $15800 and we saw a bounce.
And after a couple of hours Elon Musk said something positive about BTC in his tweet.
If you ask me, Up or Down?
Well, I don't know.
Keeping in mind the current market situation from a fundamental perspective.
There's still a lot of instability regarding FTX and other illiquid small exchanges.
Traders are withdrawing funds from exchanges which are making BTC more illiquid.
this will make it easier for the Whales to manipulate BTC.
Low Liquidity, Big candles.
Gotta be careful.
CZ is working on helping the other projects to survive these difficult times which is a good step from his side.
In the long run, everything is going to be better.
However I am not Bullish nor Bearish, I am just saying to be extra careful here.
Lower Support is at $13800, $12700a.d $11680, These will be the best price to get into BTC.
Still, Do your own Research, This is not Financial Advice.
MY ACTION:- I have bought BTC with 45% of my Cash reserves and USDT below $16k.
Waiting for more lows or a trend reversal.
So far it looks like it can take a little more time.
Till than trade carefully and always use Stop Losses.
Let me know what you think and do hit the like button and share your views in the comment section.
Thank you
#PEACE
Let me get straight to the chart
BTC broke below the pattern and we had a nasty weekly close.
I expected $15300 to be tested but there was a short-term demand at $15800 and we saw a bounce.
And after a couple of hours Elon Musk said something positive about BTC in his tweet.
If you ask me, Up or Down?
Well, I don't know.
Keeping in mind the current market situation from a fundamental perspective.
There's still a lot of instability regarding FTX and other illiquid small exchanges.
Traders are withdrawing funds from exchanges which are making BTC more illiquid.
this will make it easier for the Whales to manipulate BTC.
Low Liquidity, Big candles.
Gotta be careful.
CZ is working on helping the other projects to survive these difficult times which is a good step from his side.
In the long run, everything is going to be better.
However I am not Bullish nor Bearish, I am just saying to be extra careful here.
Lower Support is at $13800, $12700a.d $11680, These will be the best price to get into BTC.
Still, Do your own Research, This is not Financial Advice.
MY ACTION:- I have bought BTC with 45% of my Cash reserves and USDT below $16k.
Waiting for more lows or a trend reversal.
So far it looks like it can take a little more time.
Till than trade carefully and always use Stop Losses.
Let me know what you think and do hit the like button and share your views in the comment section.
Thank you
#PEACE
Trade active
Possibility of a short term bounce.
Not convincing to go long on leverage rather waiting for the local low to be tested again.
Trade active
BTC/USDT Trading again at the resistance level right now.
Only a break and close above. the red resistance are can push BTC further up.
The way USDT Dominance has broken the support there's a possibility of this scenario.
However, to stay on the safer side we will wait for a confirmation candle to take any trade decision.
Still 45% in BTC and 55% in Stables.
Trade active
#BTC The fact that it's still holding the $16k level is weird IMO.
There's a decline in volume.
Let's see if it can break the $17k resistance.
Not going long here.
DYOR, Not Financial Advice.
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.
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.