Bitcoin Analysis (10/28/2023)
Happy Saturday, Traders!
This analysis is for the BTC/USD pair, and the chart is in the 2-hour time frame. I believe the price may fall lower to test supports. We have been trading in the 33k-36k range for the past few days. RSI is still overbought. I personally, will be looking to open a long position if the price falls to the golden zone highlighted in the charts. I would also be looking for classic or hidden bullish divergence at key supports to open a long position. Let's see what happens over the next few days.
Feel free to comment in the chat, and let me know your thoughts on the pair.
Remember to always trade with a stop loss and a take profit. Practice sound risk management as well.
Lastly, this is solely my opinion, and not financial advise.
- DigitalGoldAnalysis
This analysis is for the BTC/USD pair, and the chart is in the 2-hour time frame. I believe the price may fall lower to test supports. We have been trading in the 33k-36k range for the past few days. RSI is still overbought. I personally, will be looking to open a long position if the price falls to the golden zone highlighted in the charts. I would also be looking for classic or hidden bullish divergence at key supports to open a long position. Let's see what happens over the next few days.
Feel free to comment in the chat, and let me know your thoughts on the pair.
Remember to always trade with a stop loss and a take profit. Practice sound risk management as well.
Lastly, this is solely my opinion, and not financial advise.
- DigitalGoldAnalysis
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