BITCOIN: NOT A PLEASING CHART.
BITCOIN Update:
BTC in a shorter timeframe is not pleasing to the eyes. This rejection indicates a drop close to 16k to 15.8k in the coming hours. If BTC gets back above the resistance level (16.8k) then we can think of some positivity but until then I expect a further drop-down in the market. In a higher timeframe, BTC looks more bearish and we can expect it to drop close to 15.1k. This is good for the long-term holders to accumulate BTC at a lesser price but RIP for those who went long on BTC in leverage.
Key points:
1. 16.8k Resistance. BTC must break this to claim some positive move.
2. 16.1k further drop level.
Trade safely, guys.
BTC in a shorter timeframe is not pleasing to the eyes. This rejection indicates a drop close to 16k to 15.8k in the coming hours. If BTC gets back above the resistance level (16.8k) then we can think of some positivity but until then I expect a further drop-down in the market. In a higher timeframe, BTC looks more bearish and we can expect it to drop close to 15.1k. This is good for the long-term holders to accumulate BTC at a lesser price but RIP for those who went long on BTC in leverage.
Key points:
1. 16.8k Resistance. BTC must break this to claim some positive move.
2. 16.1k further drop level.
Trade safely, guys.
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