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Welcome to this BTC /USD update. Here I share with you a 4-day chart of BTC. The upcoming months will be bullish for BTC and I'm expecting it to reach around $60k-$70k in June or July.
Here I explain a few points why I'm expecting this:-
1) As you see in the chart BTC is moving between the two MA's. The yellow one is 100MA and the pink one is 166MA. You can clearly see how these two MA's works as strong support and resistance since the start of this year.
2) BTC is breaking out from a descending triangle and currently retesting the triangle. After this successful retest, I'm expecting a bullish wave. All we need is to break and close above 100 MA.
3) In the past two times we have seen a wick come to touch the pink MA and the price bounce immediately. So if this happens again then do not panic. We might see a wick to touch $37k to liquidate the high leverage longs and bounced immediately.
4) I'm expecting that the uptrend will start next week. Stay safe this week and do not use high leverage because we might see the last drop to $37k.
In short, the market going to explode soon. Be ready and accumulate good coins in the dip.
Invalidation level:- If any 4-day candle closes below the pink MA then this whole scenario becomes invalidated.
What do you think about this?
Do you think we might see the last drop to $37k and bounce or do you think that this bull run is over?
Share your views in the comment section.
If you like this idea then do support it with like and follow.
Thank You!
Welcome to this BTC /USD update. Here I share with you a 4-day chart of BTC. The upcoming months will be bullish for BTC and I'm expecting it to reach around $60k-$70k in June or July.
Here I explain a few points why I'm expecting this:-
1) As you see in the chart BTC is moving between the two MA's. The yellow one is 100MA and the pink one is 166MA. You can clearly see how these two MA's works as strong support and resistance since the start of this year.
2) BTC is breaking out from a descending triangle and currently retesting the triangle. After this successful retest, I'm expecting a bullish wave. All we need is to break and close above 100 MA.
3) In the past two times we have seen a wick come to touch the pink MA and the price bounce immediately. So if this happens again then do not panic. We might see a wick to touch $37k to liquidate the high leverage longs and bounced immediately.
4) I'm expecting that the uptrend will start next week. Stay safe this week and do not use high leverage because we might see the last drop to $37k.
In short, the market going to explode soon. Be ready and accumulate good coins in the dip.
Invalidation level:- If any 4-day candle closes below the pink MA then this whole scenario becomes invalidated.
What do you think about this?
Do you think we might see the last drop to $37k and bounce or do you think that this bull run is over?
Share your views in the comment section.
If you like this idea then do support it with like and follow.
Thank You!
BTC LTF UPDATE:- BTC is holding the $39k-$40k range very well so far. We really need some good bounce with good volume to go further upside movement. BTC is trading inside a descending triangle in 4hr time frame. Break out from this triangle and breaking above the yellow MA confirms the bullish rally.
Also, keep in mind that if we break below $39,200 then we see some quick wicks down to $37k and bounce back immediately.
So keep your stop losses tight and ready to grab the dips.