On the hourly chart, Bitcoin is forming cup and handle chart pattern, we're expecting an intermediate/short term goal to $40k. Bitcoin needs to break this resistance to see a continue upward trend.
Trade closed: target reached
In term intermediate/short term goal, BTC did reach almost $40k, but we all know that at the moment BTC was about to break out, Elon released his Tweet, which in turn caused FUD and that's why we witness such a big red candles
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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.