BTCUSDT - Long entry @ 41600 (pending)
Updated
BTCUSDT managed to pierce and pullback the 50% fib yesterday.
We need to close above that level to be more confident on the new uptrend.
The price went very close to triggering our buy with a high of 41555(pending buy @ 41600).
I expect a further move above the 50% fib.
Downside risks
S1 @ 40600
S2 @ 40000
S3 @ 39200 current bottom level
Upside resistance
R1 @ 42600 (50 ema)
R2 @ 42800 (61.8% fib)
R3 @ 43200 (100 ema)
R4 @ 44600 (200 ema)
We need to close above that level to be more confident on the new uptrend.
The price went very close to triggering our buy with a high of 41555(pending buy @ 41600).
I expect a further move above the 50% fib.
Downside risks
S1 @ 40600
S2 @ 40000
S3 @ 39200 current bottom level
Upside resistance
R1 @ 42600 (50 ema)
R2 @ 42800 (61.8% fib)
R3 @ 43200 (100 ema)
R4 @ 44600 (200 ema)
Trade active
Banks and stock market is on holiday today since Friday. This could be a reason why we are running so slow. BTCUSDT broke under all support levels in the mean time, looking for support.We could be heading to 38300 which is the ~78% fib retracement (Jun 2021 low to the Nov 2021 ATH).
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