Hi Traders, I hope you are doing well.
As today is Saturday, Bitcoin usually moves in a small range because market activity is low. Right now, price is near a strong resistance around 78K after a good upward move.
At this level, price is slowing down, which means sellers can enter here. If Bitcoin is not able to stay above 78K, then we may see a downward move.
As per simple view, price can fall towards the 75K area, which is a previous support zone. So, 78K is acting like a selling area, and 75K is a buying area.
If price stays above 78K and moves sideways, then the range can continue instead of falling. So, it is better to wait for clear confirmation before taking any trade.
This is only for learning purpose. Always manage your risk and avoid trading without proper plan.
As today is Saturday, Bitcoin usually moves in a small range because market activity is low. Right now, price is near a strong resistance around 78K after a good upward move.
At this level, price is slowing down, which means sellers can enter here. If Bitcoin is not able to stay above 78K, then we may see a downward move.
As per simple view, price can fall towards the 75K area, which is a previous support zone. So, 78K is acting like a selling area, and 75K is a buying area.
If price stays above 78K and moves sideways, then the range can continue instead of falling. So, it is better to wait for clear confirmation before taking any trade.
This is only for learning purpose. Always manage your risk and avoid trading without proper plan.
Trade active
Trade closed: stop reached
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.