BITCOIN PUSHING DOWN TOWARDS THE LOWER SUPPORT LEVEL
Welcome to my update on BTC in 4 hours TF. In our previous BTC update, I expected a little bounce and then a rejection but it rather got rejected straight from the 43k support level. The current BTC price isn't looking good. We have resistance at 39.8k to 40k which gives us two scenarios.
Scenario 1: BTC breaks above the resistance level and bounces back to hit the 21 MA resistance level.
Scenario 2: BTC gets rejected from the current resistance level and reaches the bottom support level which is at 35k.
I was expecting a correction in the market for a healthy rally and now looking into the current scenario I am biased towards scenario 2. I may be wrong but I am gonna stick to my biased opinion until and unless BTC breaks above the 40k level.
What's your biased opinion? Do you think the market will fall?
Share your views in the comments.
Do like, and follow for more updates.
Thank you.
Scenario 1: BTC breaks above the resistance level and bounces back to hit the 21 MA resistance level.
Scenario 2: BTC gets rejected from the current resistance level and reaches the bottom support level which is at 35k.
I was expecting a correction in the market for a healthy rally and now looking into the current scenario I am biased towards scenario 2. I may be wrong but I am gonna stick to my biased opinion until and unless BTC breaks above the 40k level.
What's your biased opinion? Do you think the market will fall?
Share your views in the comments.
Do like, and follow for more updates.
Thank you.
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