#BTC Dumped but don't panic, Here's why!
In my last update, I said 60k is incoming and we did see a test to $59800.
Bitcoin broke out of all the resistance levels without any major correction from $50500 to %59800.
IT DUMPED TILL THE $56873 level.
I could expect a bit more correction to the $55000 to 54000k area to test the channel trendline but only when BTC doesn't hold the 21D MA which is less likely.
56.5k is an important support level as you can see in the chart. It is also the neckline of the inverse H&S Pattern.
All these dips IMO are buying opportunities.
I've plotted both Scenarios in the chart.
Do hit the like button and share your views in the comment section.
Thank you
#PEACE
Bitcoin broke out of all the resistance levels without any major correction from $50500 to %59800.
IT DUMPED TILL THE $56873 level.
I could expect a bit more correction to the $55000 to 54000k area to test the channel trendline but only when BTC doesn't hold the 21D MA which is less likely.
56.5k is an important support level as you can see in the chart. It is also the neckline of the inverse H&S Pattern.
All these dips IMO are buying opportunities.
I've plotted both Scenarios in the chart.
Do hit the like button and share your views in the comment section.
Thank you
#PEACE
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