#BTCUSDT

In crypto trading, understanding the concepts of break and rejection in chart patterns is crucial for making informed trading decisions. A "break" refers to the price moving beyond a specific level of support or resistance, indicating a potential continuation of the trend in the direction of the break. For example, a break above a resistance level suggests bullish momentum, whereas a break below a support level indicates bearish momentum. Traders often look for confirmation of breaks, such as increased volume, to validate the move. Conversely, a "rejection" occurs when the price fails to break through a support or resistance level and instead reverses direction. This can signal a potential trend reversal or the continuation of the current trend within the established range. For instance, if the price approaches a resistance level but fails to break above it and then falls back, it is considered a rejection. Identifying rejections can be valuable for traders looking to enter or exit positions, as it provides insights into market sentiment and potential price action. Both breaks and rejections are essential components of technical analysis in crypto trading, helping traders anticipate future price movements and develop effective trading strategies. By recognizing these patterns, traders can better navigate the volatile and rapidly changing crypto market, improving their chances of success.

#Write2Earn!

#BTCUSDT It seems like a never ending story. The coin has destroyed our nerves into bits. But the patience is the key to success. Price is still hovering around 66xx and 70xx. Each time it travels towards any of these points, it seems the trend has changed but a U turns comes finally. However, noticeable thing is that immediate support is continuously rising that is from 64400 to 64800 now in D1 TF. This indicates a clear bullish run may happen at any time from a dip or a waterfall may happen from a top. Only enter on rejection from second confirmation candle. I use H1 TF at targeted areas for the rejection and confirmation candle. #Write2Earn!

#BTCUSDT Try to learn gain and achieve SNR (Support and Resistance)

Support and resistance are fundamental concepts in the crypto market, playing crucial roles in technical analysis and trading strategies. Support refers to a price level where a cryptocurrency tends to find buying interest, preventing the price from falling further. This level is often marked by previous lows or specific psychological price points where demand outweighs supply, leading to a rebound. Conversely, resistance is a price level where selling pressure outweighs buying pressure, preventing the price from rising further. It is typically identified at previous highs or significant price levels where sellers dominate. Understanding these levels helps traders make informed decisions, such as when to enter or exit a trade, set stop-loss orders, or identify potential breakout opportunities. In the volatile crypto market, these levels are not static; they evolve as market conditions change, influenced by factors such as market sentiment, news events, and broader economic indicators. Traders often use tools like moving averages, trend lines, and Fibonacci retracement levels to identify support and resistance. Recognizing the dynamic nature of these levels and adapting strategies accordingly is essential for navigating the unpredictable and rapidly changing crypto landscape effectively.

#BTCUSDT So the resistance was tested at 70xx and now it is trading at 67xx. Same scenario still prevails Resistance 70250 Support is now 64500. #Write&Earn

#BTCUSDT It is a nerve game. One who stalks like a lion can catch the trophy. I am still waiting for the strong support at 64400 or the resistance 70250 in D1 TF to conclude an entry on confirmed rejection.

#BTCUSDT What is next in BTCUSDT? An immediate support in D1 TF is at 64400 and resistance 71600 while the price is moving in between 66-70 area for 3 days. The channel mentioned in the attached chart along with SMA 33-44 gives a clear SNR that is 63xxx-64xxx. Conclusion : Taking support from 64xxx may lead to 70xxx area and if being resisted by 63xxx can pull the price further down towards 52xxx SMA200. For the sake of entry, wait for the price to retest and get rejection from the mentioned SNRs to find an entry for Buy or Sell.

#BTCUSDT. The Trend Line shared few days back when Btcusd was hovering around 67xxx respected by the price action and returned from that 71xxx zone. If the price stays below this level for a week in D1 TF then 52xxx area is on the table. #Write&Earn

#BTCUSD being bullish since kicked back from 56xxx support. Now hovering around 66xxx area. A simple trendline drawn in D1 time frame from last two rops 73xxx and 72xxx gives a clear resistance level of 71xxx. Breaking and getting support from it will lead to new higher highs and on the other hand getting rejection may drop it to 52xxx zone this time. However a bull flag is also forming. #Write&Earn