BTC UPDATE: IN SHORTER TIMEFRAME

2022年5月8日

Welcome members to this update on BTC in 2 days timeframe.

If you are viewing my post for the first time then do not forget to like and follow. I share updates on the crypto market including margin trading, futures, spot, and scalping. All ideas are my biased opinion and I invest at my own risk. I don't force anyone to buy or sell, I simply share my ideas absolutely for free and it is your sole decision whether to trade on them or use them to understand the market.

We all are aware of the rejection and this may have affected many traders. This is the harsh reality of crypto. You can make easy money here as well as lose it. The market is always volatile and uncertain. So, either you face it or give up and find something else.

Moving on to the chart, BTC got rejected from 48.2k and until now it is close to a 30% drop which is not at all good. Now, it looks like BTC is most likely to enter the support zone which is between 29.6k to 33.5k. This can be a good accumulation zone if BTC bounces back from the support level. If BTC fails to hold this support level then God knows what will.

But technically speaking, I am quite positive about a bounce coming soon on BTC. I may be wrong but I am surely expecting a bounce on BTC soon. Like I said in my previous update, a slight difference in a higher timeframe makes a huge difference in a shorter timeframe. In my two weeks BTC chart, things look so bearish but in this 2 days BTC chart, we have the support that we can rely on.

What do you think about BTC? What is your prediction?

Do share your ideas in the comment box.

Like and follow for more updates.

Thank you.

2022年5月9日

註釋

BTC came under the support zone. It must bounce back if not then 29K holds strong support.