BTCUSD Bitcoin Analysis 17/3/2025

in #crypto5 days ago

Since it's reversal at 78,574.300 being completed, it has never once dropped down to touch support, and has since created another reversal support at 80,177.510 and completed it by pushing up and successfully breaking resistance. Now the price is in the middle between the daily support and daily resistance consolidating waiting to break above or below, the best thing to do right now is to wait for the appropriate break out to either side and also wait for the price to successfully break support or resistance(break support must close below support, break resistance must close above resistance) before we can start entering a trade after it has retrace to clear follow buy or follow sell volume. Another approach would be to buy when it breaks below for a chance of a fake out and the price pulling back after tricking people into follow selling or selling when it retraces.

If there is any questions about the theory I posted, feel free to ask and I'll be back to answer all queries because I can understand the confusion my theory caused.

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