BITCOIN: Expecting a Pullback
BTCUSDT is at a weekly resistance level from 39K to 42K.
We also have the Ichimoku cloud just above us, adding more strength to that resistance level.
On the bullish side, we have increased volume against the resistance, which could mean a possible build-up before a breakout, also we are just above180 EMA, if the EMA holds as support it could lead to a structure forming against the resistance.
Considering all this, I think we might still get a pullback towards the mid part of the range 36K to 34K.
But a breakout is not at all discarded so I will be keeping an eye for that.
ALWAYS PRACTICE RISK MANAGEMENT, RISK MANAGEMENT IS VITAL TO TRADING.
We also have the Ichimoku cloud just above us, adding more strength to that resistance level.
On the bullish side, we have increased volume against the resistance, which could mean a possible build-up before a breakout, also we are just above180 EMA, if the EMA holds as support it could lead to a structure forming against the resistance.
Considering all this, I think we might still get a pullback towards the mid part of the range 36K to 34K.
But a breakout is not at all discarded so I will be keeping an eye for that.
ALWAYS PRACTICE RISK MANAGEMENT, RISK MANAGEMENT IS VITAL TO TRADING.
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