Bitcoin Price Analysis
BTC has broken out from the trendline and 43500 level, and it took support in the 43500 level too. As of now 43500 and 44500 are important levels to watch out for. It has been consolidating and is moving between the 44500 and 40500 levels for quite some time.
BTC has to break 44500 levels for further rally to continue in the medium to long term.
Any failure to hold on to the 43500 level can trigger further downside. Supports further down as marked in this chart would become important levels. Any fall below further supports and the 40500 level could harm the momentum of the bull run in the medium to long term.
Target profit, stop loss, Risk Reward Ratio, and Position Size as per risk-taking potential.
The Market Fundamentals and Overall Crypto Market Sentiment should also be considered before action.
Note: Not Investment/Trading Advice. Purely Personal Views. DYOR Before investing or trading. Not responsible for P&L arising out of this idea.
BTC has to break 44500 levels for further rally to continue in the medium to long term.
Any failure to hold on to the 43500 level can trigger further downside. Supports further down as marked in this chart would become important levels. Any fall below further supports and the 40500 level could harm the momentum of the bull run in the medium to long term.
Target profit, stop loss, Risk Reward Ratio, and Position Size as per risk-taking potential.
The Market Fundamentals and Overall Crypto Market Sentiment should also be considered before action.
Note: Not Investment/Trading Advice. Purely Personal Views. DYOR Before investing or trading. Not responsible for P&L arising out of this idea.
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