BITCOIN TOOK US BY SURPRISE. A STRAIGHT 15% GAIN WITHIN 24 HOURS
What a cool way to hit the weekend. Almost everyone gave up on BTC after a quick drop from $38500 resistance to $36200. It was almost a 7% drop where I personally exited the market. Indeed, BTC bounced back but it was more like a re-test before a further drop. But BTC didn't stop at all. From a 7% drop to a whopping 15% gain in the last 24 hours is just amazing.
The market looks pretty good here but this doesn't mean that the market is bullish. If you clearly see the chart then BTC is currently at a very strong resistance level. And in order to confirm a bullish move, BTC must break above Resistance 1 ($41k-$42k) and Resistance 2 ($43k to $44k) levels. If BTC fails to cross these levels then we may see a rejection soon.
So, let's hope for the best and trade safe. I'll see you guys in the next update.
Do like and share your views on BTC.
Trade safe.
The market looks pretty good here but this doesn't mean that the market is bullish. If you clearly see the chart then BTC is currently at a very strong resistance level. And in order to confirm a bullish move, BTC must break above Resistance 1 ($41k-$42k) and Resistance 2 ($43k to $44k) levels. If BTC fails to cross these levels then we may see a rejection soon.
So, let's hope for the best and trade safe. I'll see you guys in the next update.
Do like and share your views on BTC.
Trade safe.
