Welcome to this quick update, everyone. If you are reading my updates for the first time do follow me to get more complex charts in a very simplified way.
I also post altcoin setups on Spot, Margin, and Futures .
Let's get to the chart.
Bitcoin dumped all the way to 37.7k level and bounced to maintain the 38.2k level which also happens to be the 21D MA in daily.
IMO, We must see some bounce anytime.
FOR THE TREND TO REMAIN BULLISH we really need a close above the 38.2k level and eventually 41.5k level for a new ATH.
If these things don't happen soon, it's highly likely that BTC could make a new Low below 27k level.
In the green box at the right hand bottom of the channel.
Invalidation: Just like I said in my last update, Daily close below this level could take BTC to 35k level.
What's your thought on this?
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#PEACE