CAN BTC BREAK THIS $48K RESISTANCE LEVEL?
Welcome members to this update on BTC.
If you are viewing my post for the first time then do not forget to like and follow. I share updates on the crypto market including margin trading, futures, spot, and scalping. All ideas are my biased opinion and I invest at my own risk. I don't force anyone to buy or sell, I simply share my ideas absolutely for free and it is your sole decision whether to trade on them or use them to understand the market.
BTC has been struggling to break through the
48K resistance level. We can see multiple shadows at 48K which indicates selling pressure but seems like the bulls aren't over yet. Along with the wicks from above, we can also see a long wick from the bottom. The pressure is from both ends and looking at the entire picture here, BTC should show retracement. If at all BTC retest then we have good support at 45.5k or either fall down towards 44k.
On the other side, if BTC breaks above resistance 1 then we will have a different story to share.
What do you think about BTC? Do you think BTC needs a correction here?
Share your thoughts and views in the comments.
Do like and follow for more updates.
Thank you.
If you are viewing my post for the first time then do not forget to like and follow. I share updates on the crypto market including margin trading, futures, spot, and scalping. All ideas are my biased opinion and I invest at my own risk. I don't force anyone to buy or sell, I simply share my ideas absolutely for free and it is your sole decision whether to trade on them or use them to understand the market.
BTC has been struggling to break through the
48K resistance level. We can see multiple shadows at 48K which indicates selling pressure but seems like the bulls aren't over yet. Along with the wicks from above, we can also see a long wick from the bottom. The pressure is from both ends and looking at the entire picture here, BTC should show retracement. If at all BTC retest then we have good support at 45.5k or either fall down towards 44k. On the other side, if BTC breaks above resistance 1 then we will have a different story to share.
What do you think about BTC? Do you think BTC needs a correction here?
Share your thoughts and views in the comments.
Do like and follow for more updates.
Thank you.
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