Hello Community!
When looking at the 2hr TF, BTC/USDT just broke below the ascending trendline, and as we all know that is a clear sign of weakness. It attempted to move above the line but the bears look to have gained control because it shows a clear rejection. When a S/R line is broken it is typically retested before moving higher/lower. Let us see how this all plays out in the upcoming weeks. To be honest... if we continue this bearish pressure and 30k is broken decisively, I can see BTC hitting 15k-20k in the months to come. If entering a trade don't forget to use a stop loss. Don't trade with what you're not willing to lose.
Love it or hate it, hit that thumbs up and comment. It'll be greatly appreciated!
This is not financial advice.
Safe Trading Calculate Your Risk/Reward & Collect!
Simplicity Wins
When looking at the 2hr TF, BTC/USDT just broke below the ascending trendline, and as we all know that is a clear sign of weakness. It attempted to move above the line but the bears look to have gained control because it shows a clear rejection. When a S/R line is broken it is typically retested before moving higher/lower. Let us see how this all plays out in the upcoming weeks. To be honest... if we continue this bearish pressure and 30k is broken decisively, I can see BTC hitting 15k-20k in the months to come. If entering a trade don't forget to use a stop loss. Don't trade with what you're not willing to lose.
Love it or hate it, hit that thumbs up and comment. It'll be greatly appreciated!
This is not financial advice.
Safe Trading Calculate Your Risk/Reward & Collect!
Simplicity Wins
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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.