Hello traders, here's a simple yet important update on BTC.
Timeframe: 3 Days.
Update: BTC has been trying its best to maintain the $20k level and it is still holding it. After the quick drop towards the $17k, I expected BTC to rally close to the $27k level but the recent drop formed a different scenario. Looks like BTC is not done yet and it might still drop further down. As we all know that the $17k range is showing major support for BTC and if at all BTC breaks below the $20k level then $17k is the only support to hold.
According to all the F.A and T.A, I am expecting a further drop in BTC holding the $17k support and then a bounce back towards the $27k by the end of the 3rd quarter. The only invalidation point will be the $17k support level.
Conclusion: This market is full of surprises so do not trade blindly. It is not a bull run, my friend where you pick any coin and it gives you 30x to 50x. This is a bear market where everything burns.
If you agree with this idea then show some support through likes and comments. Any suggestions or corrections are welcome as well.
Thank you.
Timeframe: 3 Days.
Update: BTC has been trying its best to maintain the $20k level and it is still holding it. After the quick drop towards the $17k, I expected BTC to rally close to the $27k level but the recent drop formed a different scenario. Looks like BTC is not done yet and it might still drop further down. As we all know that the $17k range is showing major support for BTC and if at all BTC breaks below the $20k level then $17k is the only support to hold.
According to all the F.A and T.A, I am expecting a further drop in BTC holding the $17k support and then a bounce back towards the $27k by the end of the 3rd quarter. The only invalidation point will be the $17k support level.
Conclusion: This market is full of surprises so do not trade blindly. It is not a bull run, my friend where you pick any coin and it gives you 30x to 50x. This is a bear market where everything burns.
If you agree with this idea then show some support through likes and comments. Any suggestions or corrections are welcome as well.
Thank you.
