Hello everyone, if you like the idea, do not forget to support with a like and follow.
Welcome to this important weekly update on Bitcoin. I do not want to scare you guys. I'll tell you what i see in the chart.
Let's get to the chart. BTC holding the green support zone ($58k-$60k) from last three weeks very well. As long as BTC above this green support zone then no need to be panic.
BTC is forming a rising wedge-like structure. If BTC played out according to this structure then it might come to touch the lower trendline of the falling wedge channel which is at around $54k. Also, if we move 50D MA further then it also reached out near $55k. So BTC might come to test this 50D MA.
Also, if you look into the fear and greed index then you see we are still in greed zone from the last month. So maybe a wick down to the $55k or $53k is possible to make everyone fearful again.
After this correction BTC is all set to go $100k.
It's not necessary that we see this correction. I'm just sharing my thought here and be ready for every scenario.
Always use SL in your trading and proper risk management, this is very important to become a professional trader.
If you like this idea then do support it with like and follow.
It always motivates me to work more and more.
Also, share your views in the comment section.
This isn't financial advice. DYOR before investing.
Thank You!
Welcome to this important weekly update on Bitcoin. I do not want to scare you guys. I'll tell you what i see in the chart.
Let's get to the chart. BTC holding the green support zone ($58k-$60k) from last three weeks very well. As long as BTC above this green support zone then no need to be panic.
BTC is forming a rising wedge-like structure. If BTC played out according to this structure then it might come to touch the lower trendline of the falling wedge channel which is at around $54k. Also, if we move 50D MA further then it also reached out near $55k. So BTC might come to test this 50D MA.
Also, if you look into the fear and greed index then you see we are still in greed zone from the last month. So maybe a wick down to the $55k or $53k is possible to make everyone fearful again.
After this correction BTC is all set to go $100k.
It's not necessary that we see this correction. I'm just sharing my thought here and be ready for every scenario.
Always use SL in your trading and proper risk management, this is very important to become a professional trader.
If you like this idea then do support it with like and follow.
It always motivates me to work more and more.
Also, share your views in the comment section.
This isn't financial advice. DYOR before investing.
Thank You!
