Cryptocurrency- Be ready for a long consolidation in BITCOIN. Today. everyone is talking about Cryptocurrency BITCOIN. Bitcoin is one of the most volatile cryptos nowadays. In the last two weeks, we have seen a positive bias trading in BITCOIN. It rallied from 29341 to 42532 and settled around 41409. After a steep fall from the top 64374 levels, now we expect BITCOIN to trade within a range for the next 6 months.
Yes… Range-bound trading for the next 6 months.
We will not expect BITCOIN to breach the support level of 27900—24600 in the next 6 months of trading while we find a good and healthy resistance at 52500 levels.
Our positive view in BITCOIN negates on a close below 24600 levels only.
Any sharp downside panic till 35000—33000 will be the best buying opportunity for traders and investors.
Maintain stop loss below 24600 on a closing basis.
On the other hand, traders should remain cautious in the range of 51000—52500 levels as selling pressure may arise from the top.
Hence, we recommend trading within a range between 29000—53000.
Short term trading range
Below 40700, it could test 39500—38300 and then to 35000—33000 levels.
On the other hand, BITCOIN has immediate resistance at 43600—45900—46600—51100.
Sell on rising and buy near to the support will be the best trading technique for traders and investors for the next 6 months of trading.
DOGECOIN
Last week, we recommended buying in DOGECOIN. Hope you all are holding long in it. The immediate upside target looks 0.255000. So you can concentrate on DOGECOIN too.
It looks good for the extreme upside move till 0.350000 levels in days to come.
It’s a good time to invest in DOGECOIN.
Trade safely, If any reversal seems then surely we will update on our blog.