Hello everyone, if you like the idea, do not forget to support with a like and follow.
Welcome to this BTC update.
BTC is forming a descending broadening wedge pattern in the daily time frame and currently facing strong resistance at the $24,200 level. BTC needs to break and close the daily candles above the $24,200 level for further bullish movement in the market.
So far it is rejecting from the resistance level. IMO we might test the 22k level from here for a retest and if the 22k level holds by bulls then we see a good uptrend continue.
So my plan is I'll long BTC at the 22k-22.5k level if it reached there and hold. In the second scenario if we get a breakout without any retracement then I'll open a long position at the retest of this wedge.
As of now, we have to wait patiently and enjoy your weekend.
If you like this idea then do support it with like and follow. Also, share your views in the comment section.