Bitcoin: still bullish long term

15 Apr

BTCUSDT, 1d
Market is trading between $63,000 and it’s all time high, $73,000 levels.
Swing traders can buy at the support and sell the resistance of this range.
On the contrary, Breakout traders will wait to trade the breakdown or breakout of the range.


BTCUSDT
Price recently broke below the 50SMA which could signal a mid-term downtrend upon the breakdown of the $60,000 support level.

In my opinion, it would be prudent to maintain a bullish bias as far as price remains above the 200SMA. In that case, if the $60,000 level fails to hold, the next possible support could be the weekly fair value gap (yellow rectangle).

As always, ‘’anything can happen’’ so we wait for the market to unfold to gain more clarity. #DYOR