BTC Short Term Analysis
BTC has corrected in the last few days, but it has took support in the trendline, Major Supports including Trendline, SMA 150, and Support Zones have survived, and the price of BTC as well as ALT Coins are above their support.
As the overall market sentiment is bullish in the medium term, we can expect BTC to Bounce off from here, Important Price Supports to watch out for are 40500 and 38000. Any significant fall and close below these levels could trigger further selloff and turn market mood to negative side.
It would be a good idea to go long in the support zone for medium-term positions with Target Profit and Stop Loss as per Risk Taking Potential.
The Market Fundamentals and Overall Crypto Market Sentiment should also be considered before any action.
Note: Not Investment/Trading Advice. Purely Personal Views. DYOR Before investing or trading. Not responsible for P&L arising out of this idea.
As the overall market sentiment is bullish in the medium term, we can expect BTC to Bounce off from here, Important Price Supports to watch out for are 40500 and 38000. Any significant fall and close below these levels could trigger further selloff and turn market mood to negative side.
It would be a good idea to go long in the support zone for medium-term positions with Target Profit and Stop Loss as per Risk Taking Potential.
The Market Fundamentals and Overall Crypto Market Sentiment should also be considered before any action.
Note: Not Investment/Trading Advice. Purely Personal Views. DYOR Before investing or trading. Not responsible for P&L arising out of this idea.
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