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Here is a quick update on BTC. BTC currently trading above $49k. It made a decent upside move from the starting of Uptober (October) month. Now BTC facing a big psychological resistance which is at $50k. Le's see what the chart says.
According to the chart, I expect some retracement from here. Why am I expecting a retracement? Because the RSI shows a bearish divergence and also volume is decreasing. So I expect BTC price may come to $47,500 or even $45k and a quick bounce from there is highly likely.
Also according to the fear and greed index, we are in the greed zone now. So "be fearful when everyone is greedy and be greedy when everyone is fearful."
But if we manage to break and close above the $50k then my next short-term target is $53k. So keep a close eye on the $50k level and avoid high leverage trading as of now.
Do appreciate with your likes and support.
It motivates me to work more.
This isn't financial advice. DYOR before investing.
Thank you!
Here is a quick update on BTC. BTC currently trading above $49k. It made a decent upside move from the starting of Uptober (October) month. Now BTC facing a big psychological resistance which is at $50k. Le's see what the chart says.
According to the chart, I expect some retracement from here. Why am I expecting a retracement? Because the RSI shows a bearish divergence and also volume is decreasing. So I expect BTC price may come to $47,500 or even $45k and a quick bounce from there is highly likely.
Also according to the fear and greed index, we are in the greed zone now. So "be fearful when everyone is greedy and be greedy when everyone is fearful."
But if we manage to break and close above the $50k then my next short-term target is $53k. So keep a close eye on the $50k level and avoid high leverage trading as of now.
Do appreciate with your likes and support.
It motivates me to work more.
This isn't financial advice. DYOR before investing.
Thank you!
