Hello, community members welcome to another BTC/USDT chart update.
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As my previous chart got invalidated because BTC again failed to sustain a price level of $31600.
BTC was again rejected for the 5th time from the red resistance zone and dropdown almost 7.5% from the resistance zone.
Currently, BTC is trading at the price level of $29300 and still an hour left for a candle close.
Below BTC has two support levels one is local trend line support and another one is the most crucial support zone for BTC.
Here BTC needs to hold this local support and close above otherwise green support zone is the crucial support to hold.
Let's see how BTC performs in the upcoming hours.
A candle closes below the green support zone will be the invalidation point of this chart analysis.
NOTE: This is not financial advice. This is for education purposes only. I am not responsible for the profits or losses you generate from your investments.
DO YOUR RESEARCH BEFORE MAKING ANY TRADES.
Thank you.
