Bitcoin Trading in Range so what next?
Bitcoin trading at $28,000 level. Technical analysis suggests that the market is waiting for a breakout, which could happen this week.
In terms of support and resistance levels, the downside support is at $26,650 while the upside resistance is at $28,900. Traders should be prepared for increased volatility in the BTC/USDT market over the next seven days.
If there is an upside breakout and the price surpasses the resistance level at $28,900, we may see the price reach $35,000. However, if the price drops, the next major support level is at $26,650. If this level is broken, the price could fall to $24,000.
Risk management is crucial in every trade, so it's important to have a plan in place before entering the market. Traders should always use proper risk management techniques, such as stop-loss orders, to limit their potential losses. By doing so, they can ensure that their trading strategies are sustainable over the long term.
Overall, the BTC/USDT market is expected to be volatile in the coming days, and traders should remain vigilant and cautious in their approach to trading.
In terms of support and resistance levels, the downside support is at $26,650 while the upside resistance is at $28,900. Traders should be prepared for increased volatility in the BTC/USDT market over the next seven days.
If there is an upside breakout and the price surpasses the resistance level at $28,900, we may see the price reach $35,000. However, if the price drops, the next major support level is at $26,650. If this level is broken, the price could fall to $24,000.
Risk management is crucial in every trade, so it's important to have a plan in place before entering the market. Traders should always use proper risk management techniques, such as stop-loss orders, to limit their potential losses. By doing so, they can ensure that their trading strategies are sustainable over the long term.
Overall, the BTC/USDT market is expected to be volatile in the coming days, and traders should remain vigilant and cautious in their approach to trading.
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