Welcome to this quick BTC Update Guys.
This isn't a recommendation to short BTC.
BTC is hitting the resistance right now.
Also it is trading under a rising wedge channel which is a bearish pattern.
Successfull daily close above $12200 will confirm a rally to $13800 which seems unlikely fro now.
The weekend is near so I don't think BTC could just break that 12k level without even having a healthy retracement.
I could be wrong and I will be happy if I am.
Though I make unbiased charts, still I consider myself a BTC Bull.
Important support levels have been plotted in the chart. Please observe.
Reading my charts will help you to analyse Price actions very easily. I try to make it look very simple for you to understand,
HOPE YOU LIKE MY UPDATES,
Be vigilant to the market.
When BTC Pumps that is the right time to get into altcoins because they dip and bounce very quickly.
Do hit the like button if you like my updates and feel free to share your views in the comment section.
Also follow me for more updates.
Stay safe
#PEACE
This isn't a recommendation to short BTC.
BTC is hitting the resistance right now.
Also it is trading under a rising wedge channel which is a bearish pattern.
Successfull daily close above $12200 will confirm a rally to $13800 which seems unlikely fro now.
The weekend is near so I don't think BTC could just break that 12k level without even having a healthy retracement.
I could be wrong and I will be happy if I am.
Though I make unbiased charts, still I consider myself a BTC Bull.
Important support levels have been plotted in the chart. Please observe.
Reading my charts will help you to analyse Price actions very easily. I try to make it look very simple for you to understand,
HOPE YOU LIKE MY UPDATES,
Be vigilant to the market.
When BTC Pumps that is the right time to get into altcoins because they dip and bounce very quickly.
Do hit the like button if you like my updates and feel free to share your views in the comment section.
Also follow me for more updates.
Stay safe
#PEACE
Note
The above analysis is done on a 2 hour Chart, What I am saying here is we need to consolidate more around 11600- 11900 range.I am not bearish. BTC Broke a 953 days old resistance so it isn't bearish at all.
Read my last Update, When BTC was trading around $8330 I speculated a 12k BTC in Aug 2020. So do not misinterpret the information here.
This is scenario 2. If BTC manages to bounce back from this channel it will eventually complete a bullish Pennant pattern.
Note
So far all good and accurately predicted.Rejected, touched 11667 almost 223 points down in 11 hours.
Let's see if Scenario 2 works here and we see a bounce.
Break below the channel would eventually lead to 11k retest.
I will keep this idea updated.
Thank you
Note
Another attempt to break the 12k Resistance.Though its trading above 12k the real Resistance lies around $12221. Any break above that range could signal for a rally around 12700 level and possibly $13760 within the end of this month.
Rejection would pull BTC all the way around $11500.
Let's see how it goes. I will keep you updated.
Daily close will clear more dust.
For now wait aside and do not FOMO Buy or Sell anything.
Stay tuned
PEACE Note
Welcome to this quick update on BTC.BTC is just holding the support atm.
Breakdown will lead to $11600 level. A bounce will result in a move above $12500 easily. I think it should hold the support. Let's see what happens.
I will keep this chart updated,
Stay tuned.
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Daily Signals:- telegram.me/thecryptorphic
Coincatch:- bit.ly/15000USDTBonus
BLOFIN - bit.ly/Cryptorphic
Binance: bit.ly/cryptorphic1000
ELITES: bit.ly/Join_elite
Coincatch:- bit.ly/15000USDTBonus
BLOFIN - bit.ly/Cryptorphic
Binance: bit.ly/cryptorphic1000
ELITES: bit.ly/Join_elite
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.