What is going on now with BTC/USD?
Bitcoin's recent breakout to the upside against the US dollar took place on the third of this month as indicated on the 30 minutes price chart above with lost of volatility which created lots of trade opportunities for the short term and day traders.
The pair's recent dip on the 12th and 17th of this month were supported at its 500 moving average. It has also created an active support trend line to the upside which has pushed prices through two resistance price points at 5186.70 and 5324.00 in the 30 minutes price chart.
My thoughts on what may happen
BTC/USD currently trades at 5343.20 and needs to maintain trading activities above 5324.00 to continue to its next challenge at around 5497.70. The pair could pull back to 5186.70 support if it fails to remain above 53234.00
Support: 5324.00, 5186.70, 4996.20, and 4862.80
Resistance: 5497.70, 5685.40, and 5918.20
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.
Bitcoin's recent breakout to the upside against the US dollar took place on the third of this month as indicated on the 30 minutes price chart above with lost of volatility which created lots of trade opportunities for the short term and day traders.
The pair's recent dip on the 12th and 17th of this month were supported at its 500 moving average. It has also created an active support trend line to the upside which has pushed prices through two resistance price points at 5186.70 and 5324.00 in the 30 minutes price chart.
My thoughts on what may happen
BTC/USD currently trades at 5343.20 and needs to maintain trading activities above 5324.00 to continue to its next challenge at around 5497.70. The pair could pull back to 5186.70 support if it fails to remain above 53234.00
Support: 5324.00, 5186.70, 4996.20, and 4862.80
Resistance: 5497.70, 5685.40, and 5918.20
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.
