BTC - 31/10/23
It's quite a scenario to imagine, isn't it? 🐻
#Bitcoin seems to be showing signs similar to the 'Bull Trap' pattern we observed in late 2019/early 2020 🧐
👉 It's broken past the Echo Bubble Support line, deceived bears beneath the EMA50, and surged back to the former Support line, which now acts as Resistance.
The unique aspect this time is that we're witnessing a new yearly peak.
Back in 2020, an unexpected event (covid19) led to a rapid market downturn.
❓Wondering about the potential catalyst this time?
The current situation in the Middle East seems volatile. It's wise to stay alert.
For
BTC to demonstrate its strong bullish stance, reclaiming the trendline is crucial, potentially aiming for the 40-45k mark.
I'd advise against betting against #BTC right now; its momentum is commendable. Always be prudent and avoid getting caught up in the excitement.
#Bitcoin seems to be showing signs similar to the 'Bull Trap' pattern we observed in late 2019/early 2020 🧐
👉 It's broken past the Echo Bubble Support line, deceived bears beneath the EMA50, and surged back to the former Support line, which now acts as Resistance.
The unique aspect this time is that we're witnessing a new yearly peak.
Back in 2020, an unexpected event (covid19) led to a rapid market downturn.
❓Wondering about the potential catalyst this time?
The current situation in the Middle East seems volatile. It's wise to stay alert.
For
BTC to demonstrate its strong bullish stance, reclaiming the trendline is crucial, potentially aiming for the 40-45k mark.I'd advise against betting against #BTC right now; its momentum is commendable. Always be prudent and avoid getting caught up in the excitement.
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