The Dotted Red Line is the Resistance
BTC is Bearish macro time frame we might see a drop towards 24k to 21k this will be my order block in any case market closes below 21k all of this will be invalid in upcoming days soon after it we will get a relief rally towards upward 36k to 38k this will be a good buying opportunity or cut down our losses we must exit...
bitcoin is trading in a very dangerous situation if we see on the higher time frame and look closely at price action bitcoin is making lower high on a higher time frame if we broke dow previous low high we might expect a huge correction Or if it reclaims yearly open and we saw one weekly candle closing above 45k bull run is back
We all need to just trade on these levels buy in these levels and sell on this take profit as 39k will be the last possible reversal zone of the bull market
BTC has broken the structure and started making LL and LH.BTC will likely drop to 49300 so that people may start opening for short I am still bullish on BTC until we drop below 46k
In a short time frame market has broken the structure and continuously forming LL & HL we are still bearish as long as BTC stays above 52k or 49k we do not want daily, weekly, or monthly closing below this region.
Right now BTC must respect 53k if the price gets below 52k the structure whole will be destroyed
Ahead will be formed automatically I am interested in buying BTC at 54k and 56k
dips are for buying
cheers
the major key level to watch is 63600 if we get 4h candle above it wait for the retracement till 62k or 61k and take the long position with stop loss of 59.3kif we fail to do that BTC will likely to drop anywhere near 56k to 57k
BTC has formed C&H and its target is still pending it has gone into correction mode and the last point of reversal zone is 54k from there we can see a huge upward trend expected around 80k
