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puneetghai
Nov 6, 2020 5:30 AM

BTCUSD Chart estimations on previous Low and High Short

Bitcoin / U.S. dollarBitstamp

Description

I'm just attempting to see where the BTCUSD may head next. So far, I have been able to deduce these scenarios where BTC might drop, reason being availability of both Hidden Divergence and Trump VS Biden uproar. Only one scenario is valid for BTCUSD pump and that is just a small possibility. However, the Support and Resistance levels at these Fib levels are way too strong for Market to ignore them. I suspect that the bear market is accumulating and thus we might see some massive drops in coming days.
How would you play these?
Comments
pawansharma21
Will it retrace to 11000 again?
puneetghai
@pawansharma21, for now I'm guessing 13200 at the very least. Then again, I'm not an Oracle, wait for Support and resistance levels to break.
pawansharma21
Can it retrace to 11000 ??
dhirajchawla88
Sure :)
dhirajchawla88
I mean sell BTC at this moment?
puneetghai
@dhirajchawla88, I think it is safe to say that BTC has reached its pinacle for this quarter, thus, Selling it is more reasonable.

But sell only if it breaks its support.
dhirajchawla88
Will it be fine to sell/buy BTC at this moment?
puneetghai
@dhirajchawla88, I'd recommend placing conditional orders for both Buy and Sell. Sell after it breaks the support of 15150 and Buy if it breaks 15960.
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