BTC: 6.5% VOLATILITY AFTER THE FOMC.
Hello traders, I hope you guys managed to make some profit after the FOMC meeting. We saw good volatility in the market with BTC reaching $24255. A 6.5% red and green gave a good opportunity for both bulls and bears. Yesterday's trade was purely meant for scalping and if you were smart enough then you could have made some extra cash.
Anyways, in this 3 hours chart, BTC is currently trending under a rising wedge pattern which shows some possibility of rejection in the market. If you are still holding this trade or thinking to enter then $23.1k will be a good buy zone with SL at $22.1k. If BTC manages to break and close above the upper resistance trendline then better wait for confirmation and traders holding the position can enjoy the profit.
For now, I am placing my buy orders at the bottom trendline. What is your strategy? Let me know in the comments.
Trade safely.
Anyways, in this 3 hours chart, BTC is currently trending under a rising wedge pattern which shows some possibility of rejection in the market. If you are still holding this trade or thinking to enter then $23.1k will be a good buy zone with SL at $22.1k. If BTC manages to break and close above the upper resistance trendline then better wait for confirmation and traders holding the position can enjoy the profit.
For now, I am placing my buy orders at the bottom trendline. What is your strategy? Let me know in the comments.
Trade safely.
BTC Update:
BTC is moving as expected. A rejection from the resistance and now trying to bounce back from the support level. If BTC bounces back then we can expect $24k once again. If BTC breaks down below the support level then, we can expect a drop close to the $22.3k level.
I will upload the USDT dominance chart later for a clear picture. Until then trade safely.