#BTCUSDT 80K Incoming!!! Brace yourselves...
Updated
Welcome to this short update on Bitcoin.
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Let's get to the chart!
BTC looks good here and here are the reasons why BTC is likely to break the previous ATH.
1. BTC held the 33k level which is the lower support bottom for BTC
2. BTC is currently holding the 21MA daily,
3. Increase in BTC holders in the long term has reached ATH recently.
4. BTC is holding the 50 DMA level.
5. USDT Dominance is showing signs of bearishness.
6. TOTAL MARKET CAP is bullish.
7. Fractals are showing signs of a possible rally.
8. To complete the pattern BTC needs to print a third top which will eventually make a triple top
pattern in higher time frame charts.
9. BTC needed a retest after the
42K breakout and it's happened followed by a strong bounce.
Based on these reasons there's a high possibility that BTC will reach a new ATH in the next few weeks.
TRIGGER POINT FOR THE RALLY:- Break and close above the 200D MA.
INVALIDATION:- Break and close below the 30k- 33k support.
*This is not financial advice., this is just what I see in the charts.
Let me know your thoughts do hit the like button if you like this idea and share your views in the comment section.
Thank you
#PEACE
Reasons to Follow me?
*9 Years in Trading!
*7 years in Crypto
*Certified Technical Analyst
*Record Holder of Most liked Bitcoin Chart on Tradingview.
*Consistent updates on Markets and Trade Setups
*No Bias
*All-time Top Author on various assets and index charts globally.
*Very Active Community during both bull and Bear Market
Let's get to the chart!
BTC looks good here and here are the reasons why BTC is likely to break the previous ATH.
1. BTC held the 33k level which is the lower support bottom for BTC
2. BTC is currently holding the 21MA daily,
3. Increase in BTC holders in the long term has reached ATH recently.
4. BTC is holding the 50 DMA level.
5. USDT Dominance is showing signs of bearishness.
6. TOTAL MARKET CAP is bullish.
7. Fractals are showing signs of a possible rally.
8. To complete the pattern BTC needs to print a third top which will eventually make a triple top
pattern in higher time frame charts.
9. BTC needed a retest after the
42K breakout and it's happened followed by a strong bounce.Based on these reasons there's a high possibility that BTC will reach a new ATH in the next few weeks.
TRIGGER POINT FOR THE RALLY:- Break and close above the 200D MA.
INVALIDATION:- Break and close below the 30k- 33k support.
*This is not financial advice., this is just what I see in the charts.
Let me know your thoughts do hit the like button if you like this idea and share your views in the comment section.
Thank you
#PEACE
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