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 45.5k Strategy 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-38k If 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-38k 2) 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