Bitcoin Price (BTC/USD) - Buckle Up For A Bumpy Ride

Bitcoin Price (BTC/USD) - Buckle Up For A Bumpy Ride

Bitcoin is now sitting around a strong support zone and round number 30k
Moreover, the 30k is a demand zone as we previously had an aggressive movement upward from it.

Keep in mind that no matter how strong a support is, it can still be broken. That's why we don't buy blindly.

Read next: (BTC) Bitcoin’s Price Tanks Along With Equities. U.S. Stock Market Awaits CPI Report, Poor Performance From The FTSE 100. 

BTC - Buckle Up For A Bumpy RideBitcoin is now sitting around a strong support zone and round number 30k - 1
As per my trading style:

I will be looking for potential bullish reversal setups on lower timeframes (like a double bottom , trendline break , and so on...)

Meanwhile, BTC can still break the 30k support downward, in this case, a movement till the next rejection would be expected which would be the 20k demand zone in red

Read next: Tech Stocks Plunging!? Trade Desk Earnings Announcement Pushes Tech Giant Stock Down, Russian Ruble Strengthening and Ford Motor Co. 

Always follow your trading plan regarding entry, risk management, and trade management.

Good luck!

All Strategies Are Good; If Managed Properly!

~Rich

Richard Nasr

Richard Nasr

- Full-time Trader, Coach, and Founder of theSignalyst with 400+ Students Worldwide.
- Founder of RichTL, which is the first and only indicator of its kind to help traders make Objective Technical Analysis.
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