Hello traders,
BTC didn't play out as expected. It is currently at the edge of rejection breaking down below the lower trendline. If the next candle closes below this trendline then be careful with your trades. It could be a fakeout as well but considering the volume, and the 21 MA, it is not showing any bullish sign.
I will close my positions on BTC, ETH, and GALA on leverage if the next candle closes below the supporting trendline.
The best suggestion will be to stay away from the market for now and if you have any open trades then use SL.
I will keep updating about the market situation.
BTC didn't play out as expected. It is currently at the edge of rejection breaking down below the lower trendline. If the next candle closes below this trendline then be careful with your trades. It could be a fakeout as well but considering the volume, and the 21 MA, it is not showing any bullish sign.
I will close my positions on BTC, ETH, and GALA on leverage if the next candle closes below the supporting trendline.
The best suggestion will be to stay away from the market for now and if you have any open trades then use SL.
I will keep updating about the market situation.
BTC Update:
BTC successfully bounced back maintaining the support level and as per our previous update, we are still holding our trades. Coming back to the chart, BTC must break above the $20k resistance to rally higher. We will keep our strategy as per our previous trade setup.
That's it for now. Trade safely.