BTC after coming to the level of $32.9K gave an impressive bounce-back to the level of $45.8 K. it is currently trading at the level of $42.1K at the time of writing.
As shown in the chart, the macroscopic view of its prices provides us with a range of $31K and $64K respectively.
BTC gave a Fake Breakout from the range and could not hold the levels. Slowly and steadily, it rolled down to $32.9K.
However, it has given a trendline breakout and is currently witnessing a retracement after the breakout.
Bulls should come in at the level of $40.5K and offer support while the next level of support is present at $38K. Currently, waiting for the retracement to end and then taking positions could be a good strategy to work upon.
As shown in the chart, the macroscopic view of its prices provides us with a range of $31K and $64K respectively.
BTC gave a Fake Breakout from the range and could not hold the levels. Slowly and steadily, it rolled down to $32.9K.
However, it has given a trendline breakout and is currently witnessing a retracement after the breakout.
Bulls should come in at the level of $40.5K and offer support while the next level of support is present at $38K. Currently, waiting for the retracement to end and then taking positions could be a good strategy to work upon.