#BTC/USDT technical analysis:
The BTC/USDT pair recently faced a rejection at the
31
,000 level, as previously noted in our analysis. Despite our stop loss being triggered, bearish divergence seems to be at play.
If this bearish divergence continues, we could see the pair's price target at 29 ,900 and 29 ,071. It is crucial to implement proper risk management and set a tight stop loss at any 4-hour candle close above
31
,000.
Moreover, the RSI indicator also shows rejection from the resistance line. Support levels are currently at 29 ,929 and 29 ,071.
To summarize, traders should be cautious in entering new positions and must be disciplined in risk management techniques. It is important to follow technical indicators and never trade without a stop loss in place.
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The BTC/USDT pair recently faced a rejection at the
31
,000 level, as previously noted in our analysis. Despite our stop loss being triggered, bearish divergence seems to be at play. If this bearish divergence continues, we could see the pair's price target at 29 ,900 and 29 ,071. It is crucial to implement proper risk management and set a tight stop loss at any 4-hour candle close above
31
,000. Moreover, the RSI indicator also shows rejection from the resistance line. Support levels are currently at 29 ,929 and 29 ,071.
To summarize, traders should be cautious in entering new positions and must be disciplined in risk management techniques. It is important to follow technical indicators and never trade without a stop loss in place.
Follow Us for More Quality Updates.
Thank you
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