BTC-USDT - December 01
BTC still in triangle and has touched its main resistance at 17300 as I have already told you in my previous charts. Now it's down but It can retest 17300 - 17500 area. This area will decide the next movement but over all still it's bearish .
New day candle is opened within the rectangle and my be it can retest last day high. 16800 is strong support at the moment and if breaks then 16500 will be last strong support for BTC. Bitcoin idea is still same but at the moment we need to see the breakout from triangle top and bottom. If breaks up then expected move could be 17500 - 18000 but there could be less chances of 18k .
In a big picture its still bearish till 13K - 14K or may be more down to 10k. Its main support is 15300 and Bitcoin has not touched its bottom till now because no one know how much it can go down but if you see the over all market and Bitcoin chart you will see that if it break 14k area then 10k will be the crucial for Bitcoin and buyers. At this time buyers and sellers both want more down.
By the way Bitcoin looks weak and I am expecting no bounce here, but in any case if it bounce then expected rejection from 17100.
It will be bullish whenever it will cross 30k.
Note
Please never follow anyone blindly and always remember following key points:
1- First and Last thing in trading is patience.
2- Risk management in trading is a Key so use your money accordingly.
3- Please Don't think I'm always right. I could be wrong, same as every other trader.
4- I always posted my thoughts, not financial advice.
5- Please use your mind and try to get knowledge about market. It will help you in future
Thank you and Good Luck!
New day candle is opened within the rectangle and my be it can retest last day high. 16800 is strong support at the moment and if breaks then 16500 will be last strong support for BTC. Bitcoin idea is still same but at the moment we need to see the breakout from triangle top and bottom. If breaks up then expected move could be 17500 - 18000 but there could be less chances of 18k .
In a big picture its still bearish till 13K - 14K or may be more down to 10k. Its main support is 15300 and Bitcoin has not touched its bottom till now because no one know how much it can go down but if you see the over all market and Bitcoin chart you will see that if it break 14k area then 10k will be the crucial for Bitcoin and buyers. At this time buyers and sellers both want more down.
By the way Bitcoin looks weak and I am expecting no bounce here, but in any case if it bounce then expected rejection from 17100.
It will be bullish whenever it will cross 30k.
Note
Please never follow anyone blindly and always remember following key points:
1- First and Last thing in trading is patience.
2- Risk management in trading is a Key so use your money accordingly.
3- Please Don't think I'm always right. I could be wrong, same as every other trader.
4- I always posted my thoughts, not financial advice.
5- Please use your mind and try to get knowledge about market. It will help you in future
Thank you and Good Luck!
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.
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.