#BTCUSDT Is the retest complete? Or More correction ahead?
Updated
Welcome to this extensive analysis of BTC.
I'll be sharing my thoughts on general behavior in current market conditions along with the charts.
It's an important element of trading.
Your habits and discipline.
First of all, I know you don't feel good about this market.
The price action might not be allowing you to make good money under these conditions.
The 38k retest was imminent and eventually, those who followed my updates didn't FOMO at 45k.
BTC might be bearish in the short term but as long as 30k to 35k holds BTC is fine.
(This is just what I see in the charts, not financial advice)
TBH, Unless you’re a pro trader you’ll end up losing in these market conditions.
I don’t know about BTC’s current short-term PA. Anything could happen. But if you zoom out on the Weekly and this 3 Day chart it simply looks like a retest to me and maintaining the support so far.
You can see how high leverage traders are being liquidated from both sides.
This PA is pure manipulation along with FUD on global scale.
Be careful with all your trades if you are trading.
I am just adding on spot and will be adding till 33k. There’s nothing much to add here.
You all pretty much understand the situation if you follow my regular updates.
Alts are following all the fuc#ry happening in BTC. IMHO it’s more important to preserve your portfolio and trade at the right time. These are simply no trade zone for me.
Conclusion:- BTC is bouncing from the 200D MA on a 3 Day chart for 4 weeks and maintaining it so far. It is also retesting the resistance turned support trendline. The range is 35k to 38k
Close below this MA will invalidate this chart.
What do you think about it?
Do share your views in the comment section.
Like only if you find this chart helpful in any way.
Thank you
I'll be sharing my thoughts on general behavior in current market conditions along with the charts.
It's an important element of trading.
Your habits and discipline.
First of all, I know you don't feel good about this market.
The price action might not be allowing you to make good money under these conditions.
The 38k retest was imminent and eventually, those who followed my updates didn't FOMO at 45k.
BTC might be bearish in the short term but as long as 30k to 35k holds BTC is fine.
(This is just what I see in the charts, not financial advice)
TBH, Unless you’re a pro trader you’ll end up losing in these market conditions.
I don’t know about BTC’s current short-term PA. Anything could happen. But if you zoom out on the Weekly and this 3 Day chart it simply looks like a retest to me and maintaining the support so far.
You can see how high leverage traders are being liquidated from both sides.
This PA is pure manipulation along with FUD on global scale.
Be careful with all your trades if you are trading.
I am just adding on spot and will be adding till 33k. There’s nothing much to add here.
You all pretty much understand the situation if you follow my regular updates.
Alts are following all the fuc#ry happening in BTC. IMHO it’s more important to preserve your portfolio and trade at the right time. These are simply no trade zone for me.
Conclusion:- BTC is bouncing from the 200D MA on a 3 Day chart for 4 weeks and maintaining it so far. It is also retesting the resistance turned support trendline. The range is 35k to 38k
Close below this MA will invalidate this chart.
What do you think about it?
Do share your views in the comment section.
Like only if you find this chart helpful in any way.
Thank you
Trade active
The last time BTC bounced from this MA was around 6.5k in December 2019.
It moved sideways for 4 weeks.
It even broke down but eventually created a bullish engulfing pattern.
Bounce was imminent.
Rallied 63% in 59 days before the Corona dump occurred.
So, if those fractals apply here, BTC can rally all the way to $60 (Just a possibility as per chart).
Time will tell.
Let me know what you think.
Trade active
It just needs to hold the current level.
Nothing much.
Close below this MA in 3 days chart would be a red flag.
Trade active
BTC UPDATE:- 14 hours left for this candle to close and it's already a beautiful green doji.
Expecting a multi-day green market is likely if it holds the MA.
The scenario seems likely to me.
Trade active
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BLOFIN - bit.ly/Cryptorphic
MEXC : bit.ly/get9100usdt
Binance: bit.ly/cryptorphic1000
ELITES: bit.ly/Join_elite
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