Long

#BTC/USD Road to 16.2k. It has started! But Retracement?

Welcome to this quick update everyone
Bitcoin is Bullish and it has never been this bullish.,
WHY?
In my recent updates I’VE ALWAYS TOLD YOU TO REMAIN Bullish.
Since 3.7k I have been posting regular Charts aiming for $10500 after Halving.
It happened! With strong Volume.
Told you all to exit from most of your altcoins on July 20, before BTC Dominance hits 62 level.
So basically all our calls have been spot on.
Let’s look at this chart!

Bitcoin is currently holding the $10800 level and testing the $11000 zone multiple times.
Stilll BTC is bullish and the reason is:
1.Broke above the 952 days old Global Resistance Trendline.
2.After Halving Consolidation since the last 80 days which shows accumulation through multiple levels.
3. Mainstream Media has started talking about Bitcoin.
4. All we need is a Retest
The levels that we need to retest can also be considered as your RE’ENTRY ZONES:

$10418
$10010
$9732

I have categorised this update under Long setups though Its highly likely it can visit $9700 to 10100 soon.
There’s a CME Gap around $9665 which also confirms a potential retest to the 10k range.As soon as we retest these levels we will be ready for the upper Targets:

Upper Resistance Levels:

$11472
$12204
$13874
$16174

MY STRATEGY: I am 40% in USDT now which I’ll buy back BTC around the 10k level. Holding BTC will be the best strategy when it has broken a 3 year old resistance and trading some altcoin setups to increase your stack. Though we will also be ready for any outcome in the near future.

If you think this update deserves your likes please do and share your views in the comment section.

Thank you

Stay safe

#PEACE

Cryptorphic

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