Potential LONG BTCUSD 1D
Although BTCUSDT has formed a resistance at FIB 0, the trending channel seems to be bullish further, liquidating shorts at $50,450.
Daily chart shows BTC is creating support over the MA200 Line, resulting in a Golden cross within the next few days.
Breakout over $50,450 could drive the price up towards 1.68 Fib Level ($63,615).
However, I expect a short term drop as a result of Shorts Liquidation at $50,450 | 0 FiB retracement, towards $46,150, testing the MA200.
Daily chart shows BTC is creating support over the MA200 Line, resulting in a Golden cross within the next few days.
Breakout over $50,450 could drive the price up towards 1.68 Fib Level ($63,615).
However, I expect a short term drop as a result of Shorts Liquidation at $50,450 | 0 FiB retracement, towards $46,150, testing the MA200.
Trade active
Shorts liquidated at $ 50,450, heading to higher zones.Trade active
Shorts liquidated, price should build up from here
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.
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.