BTCUSDT: Price reading on BitCoin TetherUS pair has broken the trend and is heading for a lower price to open up chance for BTCUSDT buyers before resuming its journey to 11226.70. This is because, the price of BTCUSDT is declining after failing to open prices above 9147.19 on March 6, 2020.
Technically, the price of BTCUSDT broke the uptrend on February 27, 2020 to the level of 8538.19. It is not enough, however, that the price decline at 9147.19 level means buyers are not interested in higher prices at this time. Further, the price of BTCUSDT to date has dropped drastically to the price level of 7731.00 and is likely to find the nearest support area within the range (7484.00 – 7318.00).
BTCUSDT has declined (-15.94%) since then. BTCUSDT will now go down (-5%) to find the nearest support level, before making the next market-leading decision.
Our opinion for this week on BTCUSDT is the opportunity to buy BTCUSDT at the best price.
RECOMMENDATIONS BTCUSDT PRICE TO BUY:
The next zone is the determining zone, which is within the range (8660.00 – 9147.19). This Zone will determine the interests of BTCUSDT buyers and sellers. If the price of the BTCUSDT can rise above the price level of 9147.19, then the BTCUSDT will most likely find the price at the next resistance level of 11226.70. Whereas the BTCUSDT price cannot surpass the 9147.19 price, the BTCUSDT will find the lowest support level at 6515.00.
In conclusion, this BTCUSDT price reduction is just to find the best price before climbing to a higher price this year. Halving for BTC is expected in May. Therefore, take this opportunity to raise the number of BTCs before prices rise to a level higher than before.
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An analyst that brings techniques from experience. Experience in the forex market since 2006. We see "price" in a different way.