Hello traders, I hope your weekend is going well. Here's a quick update on BTC.
Timeframe: 4 hours.
Preview: Previously, we discussed the $19.4k support level and the possible bounce back but we saw the price moving a bit more downward.
Update: In this 4 hours chart, we can see that BTC holds a good support level at $19.2k and can literally see it bouncing back. Now, I am not expecting a massive rally on BTC (per the bearish situation) but at least a rally toward $19.8k to $20k would be great.
Conclusion: As per the market scenario, A rally toward $20k awaits for BTC. For now, I am long on BTC with SL below $19k. If BTC breaks down and closes below the trendline then I am gonna open a short position once again.
That's it from my end. I hope this idea is helpful for you.
Thank you for all your support.
Trade safely.
Timeframe: 4 hours.
Preview: Previously, we discussed the $19.4k support level and the possible bounce back but we saw the price moving a bit more downward.
Update: In this 4 hours chart, we can see that BTC holds a good support level at $19.2k and can literally see it bouncing back. Now, I am not expecting a massive rally on BTC (per the bearish situation) but at least a rally toward $19.8k to $20k would be great.
Conclusion: As per the market scenario, A rally toward $20k awaits for BTC. For now, I am long on BTC with SL below $19k. If BTC breaks down and closes below the trendline then I am gonna open a short position once again.
That's it from my end. I hope this idea is helpful for you.
Thank you for all your support.
Trade safely.
