BTC EXCLUSIVE UPDATE! $100k or $50k??
Hello everyone, if you like the idea, do not forget to support with a like and follow.
Welcome to this exclusive update on Bitcoin. First of all do not panic from this BTC drop. IMO it is just a retest and it's a attempt to flush out the high leverage traders from the market. Always remember when everyone is panicked and crying that is the best time to accumulate.
Now let's get to the chart first and analyze BTC in higher time frame. As you see in the chart, $58-60k is a very strong support zone for BTC and currently BTC holding very well this support. Also, there is a strong 50D MA support. IMO a bounce is must from here.
On 12th of October BTC breaking out from the cup and handle pattern. Now it's just retesting the neckline. As long as we are above 58k then no need to panic. We are still in a bull market and I'm still expecting 100k per BTC by the EOY.
If BTC break below 58k then our next two supports are 53k and 49k.
Invalidation level:- If any daily candle closes below $57,500 then this chart become invalid.
Do you also think BTC can hit 100k by the EOY? or You think bull market is over?
If you like this idea then do support it with like and follow.
Also, share your views in the comment section.
This isn't financial advice. DYOR before investing.
Thank You!
Welcome to this exclusive update on Bitcoin. First of all do not panic from this BTC drop. IMO it is just a retest and it's a attempt to flush out the high leverage traders from the market. Always remember when everyone is panicked and crying that is the best time to accumulate.
Now let's get to the chart first and analyze BTC in higher time frame. As you see in the chart, $58-60k is a very strong support zone for BTC and currently BTC holding very well this support. Also, there is a strong 50D MA support. IMO a bounce is must from here.
On 12th of October BTC breaking out from the cup and handle pattern. Now it's just retesting the neckline. As long as we are above 58k then no need to panic. We are still in a bull market and I'm still expecting 100k per BTC by the EOY.
If BTC break below 58k then our next two supports are 53k and 49k.
Invalidation level:- If any daily candle closes below $57,500 then this chart become invalid.
Do you also think BTC can hit 100k by the EOY? or You think bull market is over?
If you like this idea then do support it with like and follow.
Also, share your views in the comment section.
This isn't financial advice. DYOR before investing.
Thank You!
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.