BTC/USD (60k Dollars Acting Support?)

5 Nov 2021

💎Technical Analysis Summary💎


BTC/USD

-Not much update today, Bitcoin is retesting its local support around 60k dollars
-As long as the bulls can maintain above this region with the confluence of Fib 0.236 and EMA23
-The chances to form a bullish pattern is still in play in the coming days
-Regarding the Altcoin space, I have opened new positions since my existing trades are already in profits
-The Bitcoin Dominance keeps decreasing its value so we can expect another good rally for the Alts
-But always be careful and follow your stop loss location
-Because we will never know if BTC will move wild this weekend
-Once your trade is in your favor, always lock in some profits or move stop loss at breakeven
-This is always a part of your good risk management
-Good luck everyone and stay safe!


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