Hello traders,
Dexter here with another update on BTC. This time we will analyze the chart in 3 days timeframe.
BTC broke out above the resistance trendline 18 days ago and since then it is swinging in between the support and resistance of $21.5k & $25k. The breakout does look bullish but until and unless BTC breaks above the $25k resistance, we cannot confirm anything yet. In a longer timeframe, I am keeping my support and resistance tight and will keep my long-term position open.
Please keep in mind that this BTC update is not meant for scalping or short-term trading. This analysis is purely meant for spot and long-term holdings. If you scalp trade with 10x or 20x leverage based on this analysis then a drop toward $21.5k will take the soul out of your body. So, don't do that. I have already posted a BTC update in a shorter timeframe so please refer to that before taking any scalp trade on BTC.
Dexter here with another update on BTC. This time we will analyze the chart in 3 days timeframe.
BTC broke out above the resistance trendline 18 days ago and since then it is swinging in between the support and resistance of $21.5k & $25k. The breakout does look bullish but until and unless BTC breaks above the $25k resistance, we cannot confirm anything yet. In a longer timeframe, I am keeping my support and resistance tight and will keep my long-term position open.
Please keep in mind that this BTC update is not meant for scalping or short-term trading. This analysis is purely meant for spot and long-term holdings. If you scalp trade with 10x or 20x leverage based on this analysis then a drop toward $21.5k will take the soul out of your body. So, don't do that. I have already posted a BTC update in a shorter timeframe so please refer to that before taking any scalp trade on BTC.
