SO, BTC DECIDED TO DROP FURTHER LOW.
Welcome folks to another BTC update in a daily timeframe.
The 21.3k support level didn't last long and BTC dropped badly. As I said if BTC breakdown, the 18k range is possible and currently, BTC is heading toward that range.
The Fib level is a clear support range that goes as low as 17.6k. 0.382, 0.5, and 0.618 are considered to be important levels for the Fib, and as we can see that BTC has broken the 0.382, and 0.5 levels. The 0.618 level (at 19.2k) is yet to be tested.
The RSI is at the oversold range and from here, an upside rally is soon expected.
My expectation: Either 18.4k or as low as 17.6k and then BTC should bounce back. Obviously, we all want BTC to rally higher and higher but the market doesn't work that way.
My strategy: DCA in spot, open orders in futures between $18400 to $17600. Also, I have some orders placed at the 19k level.
That's all I have for now. Thank you for reading and trade safely.
The 21.3k support level didn't last long and BTC dropped badly. As I said if BTC breakdown, the 18k range is possible and currently, BTC is heading toward that range.
The Fib level is a clear support range that goes as low as 17.6k. 0.382, 0.5, and 0.618 are considered to be important levels for the Fib, and as we can see that BTC has broken the 0.382, and 0.5 levels. The 0.618 level (at 19.2k) is yet to be tested.
The RSI is at the oversold range and from here, an upside rally is soon expected.
My expectation: Either 18.4k or as low as 17.6k and then BTC should bounce back. Obviously, we all want BTC to rally higher and higher but the market doesn't work that way.
My strategy: DCA in spot, open orders in futures between $18400 to $17600. Also, I have some orders placed at the 19k level.
That's all I have for now. Thank you for reading and trade safely.
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