Welcome, all crypto lover friends. How are you all? Hope you all are happy and . Let's get to the analysis.
Looking at the four-hour chart, BTC is at the breaking point of the two months of . The level is also in a good position (not overbought). From my last post, BTC has followed the (Green) pattern. Right now BTC is facing huge resistance from the (Blue). Once it is out of the it is most likely that it will complete the pattern. But after that, it has to face the resistance levels $11800 (Yellow line). Then we can say that BTC is going to the moon. We may see the pattern once dear BTC starts a bull run.
But, if in case, BTC heads downwards, it is going to check at $9370 (Orange). It can bounce back from there but if not then we can say that the is not over yet. Just say, the BTC crosses the $7900 (Red), it will be checking the previous low of $6000 (Violet) and we may see a lower low of $4500 (Orange dotted line) than the previous $6000. But this scenario seems less probable.
Other than both these scenarios mentioned above, BTC can oscillate in the range of 10k to 9k for the upcoming four to six weeks. BTC market is highly volatile.
Hope for the best. May the odds be ever in your favor (while trading too).
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*This information is not a recommendation to buy or sell. It is to be used for educational purposes only.*