BTC/USDT - optimistic 29% setup
Hello, Traders!
At the moment, the market has the strongest correction movement during the current Bitcoin rally.
The asset lost 35% from its maximum and 29% from the local peak.
The market is under constant selling pressure, which is restrained by the liquidity buffer of buyers in the range of $41600-$44200.
The RSI indicator value on the daily timeframe is at the outsold zone entry.
We must understand that the sellers' pressure will not be infinite and after the market supply (sales) will be satisfied, then follow shortage of supply, which will create a demand for the asset (activation of buyers).
Entry to buy can be sought in the range of $42 600 - $44 200
Stop-loss shall be placed under $39800
Bounce targets will be :
$47200
$49700
$52400
$55000
Good luck and watch out for the market!
P.S. This is an educational analysis that shall not be considered financial advice
At the moment, the market has the strongest correction movement during the current Bitcoin rally.
The asset lost 35% from its maximum and 29% from the local peak.
The market is under constant selling pressure, which is restrained by the liquidity buffer of buyers in the range of $41600-$44200.
The RSI indicator value on the daily timeframe is at the outsold zone entry.
We must understand that the sellers' pressure will not be infinite and after the market supply (sales) will be satisfied, then follow shortage of supply, which will create a demand for the asset (activation of buyers).
Entry to buy can be sought in the range of $42 600 - $44 200
Stop-loss shall be placed under $39800
Bounce targets will be :
$47200
$49700
$52400
$55000
Good luck and watch out for the market!
P.S. This is an educational analysis that shall not be considered financial advice
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