Welcome folks to another BTC update in a daily timeframe.
The $21.3k support level didn't last long and BTC dropped badly. As I said if BTC breakdown, the $18k range is possible and currently, BTC is heading toward that range.
The Fib level is a clear support range that goes as low as $17.6k. 0.382, 0.5, and 0.618 are considered to be important levels for the Fib, and as we can see that BTC has broken the 0.382, and 0.5 levels. The 0.618 level (at $19.2k) is yet to be tested.
The RSI is at the oversold range and from here, an upside rally is soon expected.
My expectation: Either $18.4k or as low as $17.6k and then BTC should bounce back. Obviously, we all want BTC to rally higher and higher but the market doesn't work that way.
My strategy: DCA in spot, open orders in futures between $18400 to $17600. Also, I have some orders placed at the $19k level.
That's all I have for now. Thank you for reading and trade safely.
The $21.3k support level didn't last long and BTC dropped badly. As I said if BTC breakdown, the $18k range is possible and currently, BTC is heading toward that range.
The Fib level is a clear support range that goes as low as $17.6k. 0.382, 0.5, and 0.618 are considered to be important levels for the Fib, and as we can see that BTC has broken the 0.382, and 0.5 levels. The 0.618 level (at $19.2k) is yet to be tested.
The RSI is at the oversold range and from here, an upside rally is soon expected.
My expectation: Either $18.4k or as low as $17.6k and then BTC should bounce back. Obviously, we all want BTC to rally higher and higher but the market doesn't work that way.
My strategy: DCA in spot, open orders in futures between $18400 to $17600. Also, I have some orders placed at the $19k level.
That's all I have for now. Thank you for reading and trade safely.
