BTC UPDATE: Daily Timeframe:
Monthly closure was just average, 40000 will now be our monthly resistance as BTC failed to close above 21 EMA. Which if not reclaimed, puts the possibility of 33800-35500.
Until reclamation of 43100 weekly level, we will be taking short term trades and will be trading in specific ranges as major support is lost!
On 1D TF, BTC bounced from the 37500 range which was shared.
.Strong horizontal support
.Liquidity Trend line support
.Falling wedge
.Bullish divergence
.Volume decreasing and price decreasing which indicates price can go up
.VAL Level at support Area.
All these factors are holding BTC at the moment so after all these confluences we can expect an impulsive wave towards late 39s or mid 40s
But for tonight as it's weekly candle closure, stay cautious and get into less trades as we've already seen volatility before weekly closing.
@ChartsSignalsTrading
