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🐝 BTC UPDATE
The chart this week is quite simple. There are two resistances: $63,300 (local) and $64,500 (main). There is an extreme sell pressure in the main resistance area, the price was rejected from there 7 times already.
Talking about supports.. there are two of them: ascending trend line and $60,000. In fact, I tend to believe that $60k is just a psychological level that bulls don't want to lose. There is no real buy pressure there.
The only support that matters is the ascending trend line that saved the price 4 times already.
🧐 How to trade it? The safest buy is on the confident $64,500 breakout. A riskier purchase is after $63,300 breakout. If we lose ascending trend line — say goodbye to Bitcoin above $60,000. If this happens, we will see $55,000 zone in no time.
Bulls need to push the price today. Otherwise this week might be bloody. I adjusted the size of my LONG position on Bitcoin, closed 30% of it here in small profit.
BY Klondike (Crypto Rush) ⚠️
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