Hello traders, here's a quick update on BTC in 8 hours.
Recap: In my previous update, I mentioned $21k to be a support zone for BTC. It did try to stay above it but ultimately failed to hold it.
Update: The current scenario isn't looking suitable for BTC and if it continues to drop then we have support at $19k. The interesting thing to see is even after this drop the RSI is making a bullish divergence. Can this be a fakedown? Maybe. If not then $19k could possibly be good support for BTC.
I have been accumulating BTC lately and I will continue with my accumulation instead of closing it.
Let me know what you guys are thinking about this recent drop.
Trade safely.
Recap: In my previous update, I mentioned $21k to be a support zone for BTC. It did try to stay above it but ultimately failed to hold it.
Update: The current scenario isn't looking suitable for BTC and if it continues to drop then we have support at $19k. The interesting thing to see is even after this drop the RSI is making a bullish divergence. Can this be a fakedown? Maybe. If not then $19k could possibly be good support for BTC.
I have been accumulating BTC lately and I will continue with my accumulation instead of closing it.
Let me know what you guys are thinking about this recent drop.
Trade safely.
