#BTC/USD 4 hour. Seems ready to retest 9.4k
Updated
Hello guys, welcome to this quick update.
The dump was massive. BTC broke down the support and it seems we can head to the lower levels but before that we need need to see whether it breaks above the orange trendline or again gets rejected from it.
In this chart I expect the price to retest the 9400+ level soon.
Although I won't consider it as a buy region.
I was 30% in USDT and my bids got filled around $9188.
Thanks for reading.
Please hit the like button if you like this update.
#Peace
The dump was massive. BTC broke down the support and it seems we can head to the lower levels but before that we need need to see whether it breaks above the orange trendline or again gets rejected from it.
In this chart I expect the price to retest the 9400+ level soon.
Although I won't consider it as a buy region.
I was 30% in USDT and my bids got filled around $9188.
Thanks for reading.
Please hit the like button if you like this update.
#Peace
Note
Welcome to this quick update.I am gonna share with you some important factors here.
In my last BTC Idea I said BTC will try to retest the 9300 area but due to expansion in time period this figure got lower and we touched $9182 level respectively.
Some important things to keep in mind:
1.The green area is a strong demand zone, $8100 to $8430.
2. 200D MA is still holding as a support. When BTC brokeout it didn't retested the 200MA what if it was just a retest and we're ready for another push to the upside?
3. Did you notice that yellow trendline in the chart? When BTC broke out it didn't retest this line and after 10 days It retested this line on May 10.
So considering these two factors I still think we're bullish above $8100 level.
I do understand that BTC is trading under a giant Rising wedge which is a bearish pattern in classical TA. Break below this will be devastating and we can see BTC to 7800, 7400 and even 6800 level but it's too early to speculate this.
Unless we break below this wedge and the 200D MA my perspective will be BULLISH.
What do you think?
What's your thoughts on this?
Please share your views and like this idea if it helps in any way.
And do not forget to read my $132,000 per BTC prediction, the link is given below.
Hope this helps.
Trade closed: target reached
Target has been reached congratulations to those who took the trade.
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