To answer this, I have divided it into two scenarios:
Positive Scenario: BTC has closed at $52,137 daily, and the chart shows a nice BRB pattern (Breakout, Retest, & Bounce). This suggests the possibility of another parabolic move toward the $60k target.
Negative Scenario: BTC has again closed below the
52K range in the weekly timeframe. This increases the chances of rejection. Additionally, the RSI shows an overbought crisis, indicating an impending correction.
Conclusion: In the daily timeframe, if BTC closes below $50k, it will strongly indicate a correction in the market. Until then, I am expecting BTC to reach $60k.
#BTC
Positive Scenario: BTC has closed at $52,137 daily, and the chart shows a nice BRB pattern (Breakout, Retest, & Bounce). This suggests the possibility of another parabolic move toward the $60k target.
Negative Scenario: BTC has again closed below the
52K range in the weekly timeframe. This increases the chances of rejection. Additionally, the RSI shows an overbought crisis, indicating an impending correction.Conclusion: In the daily timeframe, if BTC closes below $50k, it will strongly indicate a correction in the market. Until then, I am expecting BTC to reach $60k.
#BTC
Note
Bitcoin is making its move. We need an 18% rally from the breakout point to reach $60k resistance. 4% complete, with another 14% left. Let's see if it can reach the target.
Trade safely.
#Crypto
Note
Here we go!!!!
BTC has finally bounced back from the $50k support range, and the current price is at $54.4k. This shows the possibility of BTC reaching the $60k target range. Right now, all we need is for BTC to close above the
54K range in the daily timeframe. So far, BTC is doing well. Let's see how the daily close will be.Note
Bitcoin Update:
Our 18% BTC target has completed 13%, with 5% more to go. The daily close was at $57k, which looks good. The market has seen too many greens. It will be interesting to see if the market plays out as per the analysis, with a rejection from $60k or close to $60k.
#Crypto #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.