BITCOIN
Closed At:--$57484.79 on 11.10.2021
Support: $55604.02/52853.76/51890.48/50856.57/50308.60/48791.78/47159.49/46394/45080.
Resistance:$57670/58330/59464.61/60267/61683.86/64863/73995/78604/87094/95136.
Further to my last post on 2.10.2021, please note that now the important range for it is
between $50308.60---51890.50---57670
and if it moves above $57670 and
sustain on the closing basis then it could retest its all-time high of $64863.10 or may go beyond also.
Similarly break below $51890.50 will
be an alert point and break below $50308.60
will push it into long term correction mode. The undertone is strong now and it
is likely to move up further from here, but till it gives upside breakout from $57670 one can trade the aforesaid
range now but avoid long trade if it breaks $51890.50 & 50308.60 levels and sustain on the closing basis because
then it may go down further in an accelerated pace and one may get it at much
lower levels then.
In view of the above observation it is on a good
technical footing now and likely to move up further from here, therefore one
can structure their long trade with the help of above mentioned range.
NOTE: - It is a
technical assessment as of now, the technical interpretation changes with the
price movement and time; therefore it needs periodic updating, which may please
be noted.
Disclaimer:-The view expressed here are solely of the author and he is
not at all responsible in any way for the outcome of the trade you enter based
on the above view.
Kindly note that make your cost your
stop loss in favorable trade
and then trail it as the price move up/down to gain maximum profit and avoid
losses. Use support and resistance levels as entry, exit, target and trailing
stop loss points. DO NOT TRADE OR INVEST WITHOUT ADEQUATE STOP LOSS.
Note: Price
stated here are of spot market.
Contact me for strategic guidance
to enter and exit trade.
Thanks
Narendra
Kumar Surana
Mobile—8240951127/9831313654.
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Thank you for sharing your views.