BTC in Weekly Timeframe: Holding Support.
Updated
Hello, traders!
In my previous update on the daily timeframe, I mentioned a possible rejection for BTC, which has now occurred. The 69k level was expected to hold as support, but it failed, and the price is currently trending at 68k, which remains a support level, though a weaker one.
On the weekly timeframe, BTC is still showing strong support, but if we see a further correction, 65.5k is likely the next level to watch. The upcoming weekly close needs to stay above this support level.
With the U.S. election happening today, the market is likely to experience some volatility, so please be cautious and trade safely.
I’ll continue to keep you all updated on market conditions.
In my previous update on the daily timeframe, I mentioned a possible rejection for BTC, which has now occurred. The 69k level was expected to hold as support, but it failed, and the price is currently trending at 68k, which remains a support level, though a weaker one.
On the weekly timeframe, BTC is still showing strong support, but if we see a further correction, 65.5k is likely the next level to watch. The upcoming weekly close needs to stay above this support level.
With the U.S. election happening today, the market is likely to experience some volatility, so please be cautious and trade safely.
I’ll continue to keep you all updated on market conditions.
Trade active
BTC: We are in the New All-Time High
BTC has maintained the support trendline on the weekly timeframe and swiftly broke above the previous all-time high, reaching a new high of $76,830.
With three days remaining until the weekly close, BTC needs to stay above the previous all-time high to sustain its parabolic move. Failure to do so may lead to a different outcome.
For now, BTC's current movement looks positive for the market. For further confirmation, let’s wait for the weekly close.
Trade safely.
#Cryptocurrency #BTC #USElection2024
coincall.com/r/43438887
Trade crypto options and futures on Coincall for great onboarding bonuses and a premium trading experience.
Trade crypto options and futures on Coincall for great onboarding bonuses and a premium trading experience.
Related publications
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.