As I did the BTC technical analysis last time in one of my previous posts a week ago, it was discussed in detail that the crypto giant has made a double top and that traders and investors need to be extra vigilant and cautious as it was very likely for the big correction or trend reversal. It was a good opportunity to sell some on 2nd top maybe 67k and then buy back at lows. So congrats to those who took the decision and saved them from losses and now have an opportunity to grab when the coin will take support from one of its support lines as drawn below in the chart.
Chart Source: Binance mobile app
First support line has already been broken and now heading towards second support line. Below are my second and third support lines.
S2: 58500
S3: 48400
So one buy point maybe 58.5k and the second down to 48k. Lets see what happens next and hope that crypto king will recover back and continue towards its previous bull run again as it lost 7.5% value in just 24 hrs time. Thanks!
Legal Disclaimer: I am not a financial advisor and never give advise to take any trade. The purpose of the analysis is for information only and you have to do your own working before taking any trade. I will not be responsible under any circumstances for any kind of loss.
Best of luck!
