BTC/USDT - current formation - potential 25% setup
Hello, Traders!
After an exponential surge and a final rally to $42,000, Bitcoin's price has corrected 27.95% from the high.
The current correction is the strongest of the entire trend from $10500.
So far, the price has tested the uptrend and the buyers have held the trend.
The struggle between sellers and buyers is taking place in the range of $30820-35695.
It makes sense to join the uptrend and search for a buy position after :
1. Re-test the price level of $33,600.
2. Exit of the price from the local downtrend (including the indicator RSI).
If the price reaches the level of 30820 $ closes the purchase by stop-loss.
The objectives for our position will be local levels
$35695
$37650
$39775
$41600
Watch out for the market and good luck!
P.S. This is not a piece of financial advice but only a trade I would be following myself
After an exponential surge and a final rally to $42,000, Bitcoin's price has corrected 27.95% from the high.
The current correction is the strongest of the entire trend from $10500.
So far, the price has tested the uptrend and the buyers have held the trend.
The struggle between sellers and buyers is taking place in the range of $30820-35695.
It makes sense to join the uptrend and search for a buy position after :
1. Re-test the price level of $33,600.
2. Exit of the price from the local downtrend (including the indicator RSI).
If the price reaches the level of 30820 $ closes the purchase by stop-loss.
The objectives for our position will be local levels
$35695
$37650
$39775
$41600
Watch out for the market and good luck!
P.S. This is not a piece of financial advice but only a trade I would be following myself