Btc analysis on its daily TF with supp resis & FIb rec
Updated
BTC has formed an ascending chart pattern, and I will share my plan to acquire some BTC in the spot market. There are three criteria to consider: first, observe the green trend line for support and movement towards resistance levels. Second, watch for BTC to break the trend line and 50-day moving average, and if the retest fails, look for a move towards $20,668 where the Fib 0.5 value is located. I plan to buy 20% of my reserved USDT for accumulation near this level. Lastly, I will use my USDT reserves to accumulate 40% of BTC at $18,824.
Note: Technical analysis can be useful for identifying potential trading opportunities, but it's important to remember that the market can be unpredictable, and past performance does not guarantee future results. Always practice proper risk management and stay up-to-date with market news and events that may impact your trades.
Note: Technical analysis can be useful for identifying potential trading opportunities, but it's important to remember that the market can be unpredictable, and past performance does not guarantee future results. Always practice proper risk management and stay up-to-date with market news and events that may impact your trades.
Note
Ignore Short Trade Setup
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.