#BTC/USD Important short update
Updated
BTC UPDATE (2 hour chart) : Bictoin has been trading sideways.
Bulls seem strong over 18.8k area.
I just need you to be informed, BTC is overbought in Lower Time frame charts.
The market is in extreme greed mode.
Needs correction. If you are in USDT better to stay that way.
If you are in BTC you must take some profits out at this price or maybe on a bounce.
It's likely that BTC could surpass 20k and then a big correction leaving a wick in the weekly close.
What we really need right now is a weekly close above 20k. Make it cemented in your brain.
BTC above 20k is bullish. Not here exactly. Altcoins are showing some good moves but for a sustainable rally in every alt we need btc to retrace.
I don't find it comfortable to enter altcoins while expecting a big move from BTC no matter the direction.
So stay relaxed but be vigilant to the market.
Thanks for reading.
Do hit the like button if you like this update and do share. your views in the comment section.
#PEACE
Note
BTC broke below the 21D MA which is not a good sign in short term.
It seems we are trading under this yellow channel.
RSI shows some potential upside rally is due in the short term.
Expecting a bullIsh crossover on MACD soon.
As long as BTC stays above the green area of support (18k to 18.8k),we can expect BTC to hit 19.8k again.
Conclusion: BTC is overbought and the market is extremely greedy so correction is inevitable with a potential last wave up.
Stay tuned and do follow me for more accurate updates on BTC and other altcoins.
Thank you!
Trade active
BTC Weekly Chart : You see this weekly chart? I don't see it closing above 19891 in the next few hours.
Though this BTC and anything ispossible!
We might need to wait for one more week.
The green box is the untested territory. We haven't seen a retracement in this area yet so sooner or later that one is cooming for sure.
Will post multiple Time frame charts tomorrow.
Nothing to be worried here. Stay calm and hold your positions in USDT ALTS AND BTC.
Stay tuned
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