Bitcoin broke its current downtrend line last day and now its retesting the trendline to take the support. An entry can be considered here with a very small stoploss. The concerning factor is the RSI is rejecting from the trendline and haven't given a breakout. This analysis will be only valid until the price is above the given trendline.
As u can see on the chart ... BTC has given multiple pattern breakout
1) Rounding bottom
2) Inverse Head and shoulder
3) Trendline breakout (with good volume)
Currently it has given the breakout and Retesting it ..
Levels are mentioned in the Chart
It can be bought at CMP with SL mentioned in the chart with immediate Target of T1 for Swing Trading
Also, if...
Bitcoin (BTC) has currently wiped out 50% of the entire market capital over the week and it is still yet to reach the price target of 28k Dollars within upcoming weeks or months. In Day Chart is has formed head and shoulders pattern, which indicates downward movement of the particular currency pair to go down till the mentioned price level i.e. 28k dollars in INR...
BINANCE
