LAST HOPE FOR BUYERS
Bitcoin is about to test its strongest support at 56500 (+/-$300). The chart is self explanatory. Both of the bottom lines of D-channel and Int Bearish Channel are aligned at this point. If this holds then next immediate resistance will be 62300-63300 top line of Int bearish chnl and Mid Bone of D-Channel.
On the other hand if in case this support get broken then we have to wait for the price to test this support gone resistance and get a rejection from it to head towards 50500.
CONCLUSION : I will try to find a buy entry around 56500 (+/-$300) with a stop loss at 55500. If the stop loss hits and support gets broken then will wait to retest the price back to 56500 to receive rejection. Then a sell entry can be obtain taking 56500 as resistance.fd
NOTE:- To avoid stop loss hitting, we can replace our stop loss and set it at entry point after having in profit of 2-3%. In this manner we may have another chance to re-enter and keep our equity save.
Good Luck!
