Hello folks,
Welcome to this another important update on BTC price in a daily timeframe.
Thank you for being so supportive. It’s an honor to serve you guys with quality content.
In the daily timeframe, BTC is facing some heavy resistance and it is struggling to break through the dotted trendline. The main resistance level BTC needs to face is $52956 (Resistance 1). Once BTC breaks above this level then we can expect BTC to reach the $59k level (Resistance 2).
On the other side of the coin, a rejection from the resistance level may possibly drop the price back to $48k or even $44k which will turn out to be the correction we are waiting for after all these greens.
As you can figure out by looking into the chart that BTC is trying to form a rising wedge pattern on a daily TF and if BTC surely wanna respect this pattern then soon it'll rally towards the upper trendline ranging between $59k to $62k.
We also need to keep in mind that we are at the beginning of the final quarter of the market and from 2013 till 2020, BTC went negative only twice in the month of October (2014 & 2018). So, we can keep high hopes for this final quarter and embrace what the market has to offer.
What do you think about the BTC price move?
Do you think BTC will reach $59k?
Do you think BTC could break its ATH?
Do you think BTC will reject from here?
Do hit the like button and share your views.
Every single likes and comment are highly appreciated and it motivates me to post more quality updates.
See you guys soon with a new update.
Welcome to this another important update on BTC price in a daily timeframe.
Thank you for being so supportive. It’s an honor to serve you guys with quality content.
In the daily timeframe, BTC is facing some heavy resistance and it is struggling to break through the dotted trendline. The main resistance level BTC needs to face is $52956 (Resistance 1). Once BTC breaks above this level then we can expect BTC to reach the $59k level (Resistance 2).
On the other side of the coin, a rejection from the resistance level may possibly drop the price back to $48k or even $44k which will turn out to be the correction we are waiting for after all these greens.
As you can figure out by looking into the chart that BTC is trying to form a rising wedge pattern on a daily TF and if BTC surely wanna respect this pattern then soon it'll rally towards the upper trendline ranging between $59k to $62k.
We also need to keep in mind that we are at the beginning of the final quarter of the market and from 2013 till 2020, BTC went negative only twice in the month of October (2014 & 2018). So, we can keep high hopes for this final quarter and embrace what the market has to offer.
What do you think about the BTC price move?
Do you think BTC will reach $59k?
Do you think BTC could break its ATH?
Do you think BTC will reject from here?
Do hit the like button and share your views.
Every single likes and comment are highly appreciated and it motivates me to post more quality updates.
See you guys soon with a new update.
And the rally begins