Latest BTC Update

in bitcoin •  5 months ago

Unfortunately, BTC has fallen below to our 7000 Local support level. Still some ups and downs are happening in the market. It's very hard to predict the current market price movement as the unconfirmed rumors and the secondary indicators like RSI overselling indication influencing the market too much. If bulls accept this condition we may see the price action going high. Still now the market is looking bearish.

The Major support level for today was 6600. If we break this support another support level is at 6000. I think 6600 support level is very hard to break for today.

supp 2.png
If we break this strong support at 6000, we will face our major support level at 5700.

major supp.png
Although there's a little scope to go at 5400, this support level at 5700 is very hard to break. It won't happen today.
At this time it's very hard to predict the resistance level for BTC. I think 6850 is the first resistance level for BTC today. If it breaks we will face strong resistance at 6900 and 6950. Let's see what happens. Keep hope and stay tuned.

Disclaimer: Everything written here is for discussion purpose only and should not be taken as advice to invest your capital. Always Speak with a professional financial planner or advisor before making any investment decision. Never make a trade based on what you see here. Your capital may be at risk in cryptocurrency trading.

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
Sort Order:  

Very well said we must think twice and discuss before investing but sometimes risk might give you more then expectation.

Congratulations! This post has been upvoted from the communal account, @minnowsupport, by tasnim-tamanna from the Minnow Support Project. It's a witness project run by aggroed, ausbitbank, teamsteem, theprophet0, someguy123, neoxian, followbtcnews, and netuoso. The goal is to help Steemit grow by supporting Minnows. Please find us at the Peace, Abundance, and Liberty Network (PALnet) Discord Channel. It's a completely public and open space to all members of the Steemit community who voluntarily choose to be there.

If you would like to delegate to the Minnow Support Project you can do so by clicking on the following links: 50SP, 100SP, 250SP, 500SP, 1000SP, 5000SP.
Be sure to leave at least 50SP undelegated on your account.