#BTCUSDT Reached $49k! Next Move to $74k explained!
Updated
Welcome to this quick update, everyone.
If you are reading my updates for the first time do follow me to get more complex charts in a very simplified way.
I also post altcoin setups on Spot, Margin, and Futures.
BTC broke out of the expanding channel which I discussed in my recent updates and reached the
49K level.
The chart shows a possible retracement towards the 47k level and Finally, BTC could hit the 51k range. The reason is 49k level has been an important area of support for almost 12 weeks.
Expect this level as resistance.
Breaking this in one candle could be possible but unsustainable.
The overall trend is bullish but expect some red candles on the weekend.
The retracement will give us more opportunities to enter alts at discount.
Before opening, any alt positions do understand that BTC is at the resistance right now.
Another thing to notice here is Breakout of the 43k level was very important for bullish momentum and so is the 51k level.
Once this level is broken expect a rally to a new ATH.
I expect 74k by September End to October First week only if the 21WMA holds in the weekly chart!
What's your thought on this?
Do you think this correction is over?
Do you think BTC could easily pump from here and move to a new ATH?
Do hit the like button if you like this update and share your views in the comment section.
Thank you
#PEACE
If you are reading my updates for the first time do follow me to get more complex charts in a very simplified way.
I also post altcoin setups on Spot, Margin, and Futures.
BTC broke out of the expanding channel which I discussed in my recent updates and reached the
49K level. The chart shows a possible retracement towards the 47k level and Finally, BTC could hit the 51k range. The reason is 49k level has been an important area of support for almost 12 weeks.
Expect this level as resistance.
Breaking this in one candle could be possible but unsustainable.
The overall trend is bullish but expect some red candles on the weekend.
The retracement will give us more opportunities to enter alts at discount.
Before opening, any alt positions do understand that BTC is at the resistance right now.
Another thing to notice here is Breakout of the 43k level was very important for bullish momentum and so is the 51k level.
Once this level is broken expect a rally to a new ATH.
I expect 74k by September End to October First week only if the 21WMA holds in the weekly chart!
What's your thought on this?
Do you think this correction is over?
Do you think BTC could easily pump from here and move to a new ATH?
Do hit the like button if you like this update and share your views in the comment section.
Thank you
#PEACE
Trade active
Looking at this LTF Charrt.
2 scenarios are expected.
Overall Trend is Bullish!
Trade active
Following the path so far.
21 MA is the only savior here.
Once we close below this level expect 44k to 47k level to be tested.
Avoid margin trading.
And start accumulating your favorite altcoins or the ones I will be recommending this week on spot.
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