BTCUSD - Potential Upside for Bitcoin
Updated
Don't let bear traders scare you. They usually stay in the sidelines and buy at the top, which explains why they are so salty (rekt, lol!).
Sure, their bearish forecast would eventually be accurate. After all, even a broken clock is right twice a day. :)
Unfortunately for them, we are not in that hour yet so Bitcoin is not dropping to 5000 now. As a matter of fact, we are in a bullish pennant with a potential upside target as illustrated in the chart.
By the way, I am now offering insightful market forecast and actionable trade ideas through my private CryptoEZ PRO Forecast group. Interested traders may send me a direct message for admission details.
Buy me a cup of coffee (or steak dinner):
BTC: 1GG7CwY3zqdCYqQz1ZG9PHyoxCGGrQu5pb
BCH: qznk2nnuppn0xszpmx0ruvfzlh7z5ux8r527d05k3f
Sure, their bearish forecast would eventually be accurate. After all, even a broken clock is right twice a day. :)
Unfortunately for them, we are not in that hour yet so Bitcoin is not dropping to 5000 now. As a matter of fact, we are in a bullish pennant with a potential upside target as illustrated in the chart.
By the way, I am now offering insightful market forecast and actionable trade ideas through my private CryptoEZ PRO Forecast group. Interested traders may send me a direct message for admission details.
Buy me a cup of coffee (or steak dinner):
BTC: 1GG7CwY3zqdCYqQz1ZG9PHyoxCGGrQu5pb
BCH: qznk2nnuppn0xszpmx0ruvfzlh7z5ux8r527d05k3f
Note
The selloff came out stronger than expected. Price breached the lower support of our bull flag (not pennant, just realized my typo) and went lower than our buy zone. Fortunately, price closes above the key support level at 6240 in the hourly and 4-hour candles. All we need now is for today's daily candle to close above 6240. If that happens, we may likely see a strong reversal candle on the next so hold on to those BTC if you haven't sold them already. :)
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