What is going on now with BTC/USD?
In my last update on 24/4/2019, I talked about BTC/USD heading back up to retest 5685.40, and also the important support level at 5497.70 which is crucial to its continues run to the upside; however, the pair failed to reach 5685.40 and fell below 5497.70.
BTC/USD spend a day and a half attempting to get its head above 5497.70 support turned resistance but failed and took out two support price points at 53240.00 and 5186.70 as indicated in my previous update.
My thoughts on what may happen
BTC/USD fell below its current support at 5186.70; however, it managed to bounce back and held on to its position above 5186.70, pushing back up and headed towards 5324.00.
BTC/USD needs to remain above the support trend line at 5186.70 to continue its current uptrend. The pair also need to break and remain above 5324.00 to continue to 5497.70
Support: 5186.70, 4996.20, 4862.80, and 4690.80
Resistance: 5324.00, 5497.70, 5685.40, and 5816.20
We explain, help and guide you to possibly make the right decision on when to enter, apply stop loss to protect your capital, take profit, and exit your position.
In my last update on 24/4/2019, I talked about BTC/USD heading back up to retest 5685.40, and also the important support level at 5497.70 which is crucial to its continues run to the upside; however, the pair failed to reach 5685.40 and fell below 5497.70.
BTC/USD spend a day and a half attempting to get its head above 5497.70 support turned resistance but failed and took out two support price points at 53240.00 and 5186.70 as indicated in my previous update.
My thoughts on what may happen
BTC/USD fell below its current support at 5186.70; however, it managed to bounce back and held on to its position above 5186.70, pushing back up and headed towards 5324.00.
BTC/USD needs to remain above the support trend line at 5186.70 to continue its current uptrend. The pair also need to break and remain above 5324.00 to continue to 5497.70
Support: 5186.70, 4996.20, 4862.80, and 4690.80
Resistance: 5324.00, 5497.70, 5685.40, and 5816.20
We explain, help and guide you to possibly make the right decision on when to enter, apply stop loss to protect your capital, take profit, and exit your position.
