#BTCUSDT Retest complete ? or More corrections ahead ? PART II
Updated
Welcome to this analysis everyone.
If you are reading my updates for the first time, do consider following me if you want the most complex charts in simplified unbiased manner. I also post margin and futures trade setups.
Now lets's get to the chart.
BTC retested the 34k level making a low of $34,222.
As I said in my previous chart, I'll be adding on spot till 33k.
Although there is a lot uncertainty in the global market but everything is in the chart if you look properly.
Bitcoin is making a green candle on this 200D MA in the 3 days chart.
The candle closes in the next 31 hours.
TBH, That's a nice DOJI.
Once we see the weekly as well as 3 day candle closing above 38k things will get better in the short term.
Still It's hard to say that correction is over.
CONCLUSION:- BTC looks bullish in the short term. But you gotta be very careful because either we are about to see a new parabolic run all the way to 100k+ or this will end up being a trap.
In both scenarios there are some confirmations for which we will wait and I will keep you posted.
What do you think about it?
If you like it, do hit. the like button and share your views in the comment section.
Thank you
#PEACE
If you are reading my updates for the first time, do consider following me if you want the most complex charts in simplified unbiased manner. I also post margin and futures trade setups.
Now lets's get to the chart.
BTC retested the 34k level making a low of $34,222.
As I said in my previous chart, I'll be adding on spot till 33k.
Although there is a lot uncertainty in the global market but everything is in the chart if you look properly.
Bitcoin is making a green candle on this 200D MA in the 3 days chart.
The candle closes in the next 31 hours.
TBH, That's a nice DOJI.
Once we see the weekly as well as 3 day candle closing above 38k things will get better in the short term.
Still It's hard to say that correction is over.
CONCLUSION:- BTC looks bullish in the short term. But you gotta be very careful because either we are about to see a new parabolic run all the way to 100k+ or this will end up being a trap.
In both scenarios there are some confirmations for which we will wait and I will keep you posted.
What do you think about it?
If you like it, do hit. the like button and share your views in the comment section.
Thank you
#PEACE
Trade active
BTCUSDT short time frame Update:- The best entry for going long on BTC would be somewhere between 37.5k to 38.6k with SL around $37170.
I've got a few questions regarding going long on BTC so thought to post this.
Hope to help.
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