BTC USD - Critical Zone
Updated
BTC is at a critical resistance now.
If you are long, I would be careful and make sure to have a stop loss.
If its gets rejected from here, we can see a pull back to 21k support line for a consolidation.
The indicators are pretty bullish still, so I don't expect to break the 21k support but lets see if we can break above this critical resistance soon. If we do, we can expect to hit the next resistance area marked with red horizontal lines.
If you are long, I would be careful and make sure to have a stop loss.
If its gets rejected from here, we can see a pull back to 21k support line for a consolidation.
The indicators are pretty bullish still, so I don't expect to break the 21k support but lets see if we can break above this critical resistance soon. If we do, we can expect to hit the next resistance area marked with red horizontal lines.
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The first strong resistance was passed, but now the horizontal and a bit stronger resistance is in play. Price could find support on the green dotted support line in the next few days, then we will see if it can bounce up from there.Note
Not looking good for BTC, could find support at 18k area.Note
Great recovery deserves a nice poem;
Amidst the chaos and the fear,
When many lost their faith and cheer,
#Bitcoin took a heavy blow,
But now its price begins to grow.
The bankrun shook the market's ground,
And many felt their hopes were drowned,
But those who stayed and held their ground,
Will now see gains that will astound.
For though the storm was fierce and wild,
Bitcoin proved itself a worthy child,
And now it rises, strong and sure,
Its price once more a steady lure.
So let us all take heart and see,
That even in adversity,
Bitcoin's resilience will prevail,
And bring us hope that will not fail.
Note
Shall we hit 30k zone soon? I think we shall.
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Rejected from the first resistance at 29.4k, expecting a price range to be formed in the next few weeks. This should give a breather to altcoins for a while. To be more confident in this prediction, total market cap exc BTC should be analyzed as well. BTC dominance should be more submissive in order to expect an altcoin rally and a sideways move should help with that.What do you think? Let me know please
Note
The rejection occurred on the final resistance. The price is going according to the plan, still expecting a nice range to be formed in the next few months. Once it finds the support, the market will should have a relief rally, with fundamentally strong altcoins gaining a little market share.
This is my own opinion. Please do your own research when making investment decisions.
Note
We are still in the range, but didnt get the altcoin rally I was looking forward to, mainly because people are afraid that BTC will dump and they are not confident enough to buy into alts. Good thing is though, we are still above trend support.
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Exactly as expected, Bitcoin stayed loyal to the Price Range. We just need a strong leg up now.
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Bounced up from the support toward resistance zone, slowed down and now trying to find strength to breakout. LETS GO! Trade active
This aged well.I am aiming for 88k first.
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