BTC Daily Update:
It's already day 5 since BTC hit
64K, and it is still trending above $60k, making a sideways move. BTC did something unexpected last week, and the expectation bar is set high among traders. Some expect BTC to reach a new high before the halving, while others anticipate a significant correction. Well, no one can see the future, but we can analyze the chart and create scenarios for better probabilities.
If you view the chart carefully, you'll notice that right before the previous pump, BTC went sideways, and then there was a nice 20% pump. The same action can be expected here, but only if BTC maintains these levels. A breakdown and close below $60k in daily TF will create higher chances of correction. On the other hand, maintaining the sideways trend between $60k to64K could help BTC make another parabolic move toward the ATH.
That's it for now. We will keep you all updated, so stay tuned. Have a blessed weekend.
Regards,
Team Dexter.
It's already day 5 since BTC hit
64K, and it is still trending above $60k, making a sideways move. BTC did something unexpected last week, and the expectation bar is set high among traders. Some expect BTC to reach a new high before the halving, while others anticipate a significant correction. Well, no one can see the future, but we can analyze the chart and create scenarios for better probabilities.If you view the chart carefully, you'll notice that right before the previous pump, BTC went sideways, and then there was a nice 20% pump. The same action can be expected here, but only if BTC maintains these levels. A breakdown and close below $60k in daily TF will create higher chances of correction. On the other hand, maintaining the sideways trend between $60k to
64K could help BTC make another parabolic move toward the ATH.That's it for now. We will keep you all updated, so stay tuned. Have a blessed weekend.
Regards,
Team Dexter.
Note
BTC's daily close was at $68.5k, only $500 away from the ATH. According to the chart, BTC is almost at the second layer of resistance (the ATH). We saw BTC making some amazing moves and breaking all the resistance sooner than expected. Now, what's next? By looking at the current scenario, it'll be important for BTC to either make a daily close above the ATH or maintain the levels between
65K-$68k in order to reach a new ATH. A failure to hold 65K or ultimately $60k will possibly indicate a correction phase.More updates coming soon, so stay tuned.
Regards,
Team Dexter.
#cryptocurrencies #BTC
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.