Hello, traders welcome to another BTC/USDT chart update.
As we can see in the above-mentioned chart BTC broke the $31.8k resistance level and bounced, but was unable to sustain that price level and got rejected.
Now, BTC is currently moving downside and lost almost 2.5% in a few hours.
BTC currently trading on a support zone of $31k, BTC needs to close above this red support zone, with 50 min left for a 4hr candle close. Candle close will decide the next upcoming move of BTC.
A candle that closes below the support zone will lead BTC again towards the price level of $30k.
IMHO, we should avoid long trades and wait for a candle close and if holding any, keep your stop losses (SL) tight.
NOTE: This is not financial advice. This is for education purposes only. I am not responsible for the profits or losses you generate from your investments.
DO YOUR RESEARCH BEFORE MAKING ANY TRADES.
Thank you.
