BTC - Tell me what is next ? Breakout OR Rejection ?
Updated
#BTC/USDT #Analysis
Description
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+ As depicted in the chart, BTC is currently at a crucial juncture, trading near the all-time high (ATH) range on the monthly chart.
+ This pivotal moment will determine Bitcoin's trajectory, as a breakout could propel it to new ATH levels, aligning with expectations and historical Bitcoin halving cycles.
+ In the event of a rejection, the next support level is anticipated around the 47K range. However, the possibility of a breach below this support, leading to a target of 30K, seems less likely.
+ Personally, I maintain an optimistic outlook on a price breakout. I anticipate Bitcoin to consolidate near the ATH range, paving the way for a smooth ascent once the ATH barrier is breached.
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Enhance, Trade, Grow
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Feel free to share your thoughts and insights.
Don't forget to like and follow us for more trading ideas and discussions.
Best Regards,
VectorAlgo
Description
---------------------------------------------------------------
+ As depicted in the chart, BTC is currently at a crucial juncture, trading near the all-time high (ATH) range on the monthly chart.
+ This pivotal moment will determine Bitcoin's trajectory, as a breakout could propel it to new ATH levels, aligning with expectations and historical Bitcoin halving cycles.
+ In the event of a rejection, the next support level is anticipated around the 47K range. However, the possibility of a breach below this support, leading to a target of 30K, seems less likely.
+ Personally, I maintain an optimistic outlook on a price breakout. I anticipate Bitcoin to consolidate near the ATH range, paving the way for a smooth ascent once the ATH barrier is breached.
---------------------------------------------------------------
Enhance, Trade, Grow
---------------------------------------------------------------
Feel free to share your thoughts and insights.
Don't forget to like and follow us for more trading ideas and discussions.
Best Regards,
VectorAlgo
Note
Price is consolidating in the resistance range
Enhance. Trade. Grow
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✈️ Telegram: t.me/VectorAlgo
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Join for latest signals/updates/advice.
🖥 Website: vectoralgo.com/
✈️ Telegram: t.me/VectorAlgo
🕸 SocialMedia: linktr.ee/vectoralgo
Join for latest signals/updates/advice.
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