Technical analysis by ChartTrail about Symbol BTC on 12/6/2023

It is clear that BTC is on a very strong uptrend direction with steep movement. However, it is not a good position to start buying here since the next resistance level can be reached at anytime around 45.5kStrategy is to wait for a retest of selling at pressure on a daily timeframe. It can be expected for BTC to retest at 37.5k-38kIf there is a formation of any reversal candle pattern such as hammer, bullish traders may reappear again. Trading Plan:1) Buy at the higher high of reversal candlestick near significant support level of 37.5k-38k2) hold until previous swing high and take partial profits (Traders may choose the position level at their own discretion)3) Run trend for the remaining until the structure shift