BTC Update - Slowly breaking the resistance zone
Updated
Here's a quick update on BTC 4 hr chart. As we can see, the price broke out from the falling channel and got rejected at 59.9k. The target for the breakout of the falling channel is all the way up at 64k! if we overcome the resistance zone , then we are off to New ATH! AND ALT season is coming as well!!
The price is right now in a smaller rising channel, and we might see a break to the upside soon!
One thing to keep in mind is that Bitcoin is very correlated to the big stocks, hence if the stocks are down, we should then expect a pullback from bitcoin. But S&P is breaking new ATH! with the correlation in mind, I do think we are going to see 64k soon!
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BTC dictates the market. If BTC falls, then Alts will fall as well. BTC needs to get stable before alts can run. Trade safe!
The price is right now in a smaller rising channel, and we might see a break to the upside soon!
One thing to keep in mind is that Bitcoin is very correlated to the big stocks, hence if the stocks are down, we should then expect a pullback from bitcoin. But S&P is breaking new ATH! with the correlation in mind, I do think we are going to see 64k soon!
Follow me for daily profitable trading setups
BTC dictates the market. If BTC falls, then Alts will fall as well. BTC needs to get stable before alts can run. Trade safe!
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