Welcome guys to my BTC update. I am using the same chart and the same timeframe for today's update.
BTC may not have rallied as expected but it is still under the support zone. $37.7k is good support for BTC. The RSI shows a bullish divergence which is still valid. According to the analysis, I feel like there's a major rally duly awaits in the market. If the rally comes in then I am expecting BTC to reach almost $48k to $50k.
Looking into the negative side, if BTC fails to rally higher and drops below the $37.7k support level then things may take a sharp turn in the market. Once it closes below the support level then all the bullish divergence, the rally, will get invalidated and we can expect BTC to drop close to $33k.
I am already long on BTC at around $38k and I have my stop loss kept ready at $35.9k. Let's see what comes next.
What strategy are you planning? Are you bullish on BTC or still skeptical about the market?
Let me know if you guys have doubts.
Do like and comment.
Thank you.
BTC may not have rallied as expected but it is still under the support zone. $37.7k is good support for BTC. The RSI shows a bullish divergence which is still valid. According to the analysis, I feel like there's a major rally duly awaits in the market. If the rally comes in then I am expecting BTC to reach almost $48k to $50k.
Looking into the negative side, if BTC fails to rally higher and drops below the $37.7k support level then things may take a sharp turn in the market. Once it closes below the support level then all the bullish divergence, the rally, will get invalidated and we can expect BTC to drop close to $33k.
I am already long on BTC at around $38k and I have my stop loss kept ready at $35.9k. Let's see what comes next.
What strategy are you planning? Are you bullish on BTC or still skeptical about the market?
Let me know if you guys have doubts.
Do like and comment.
Thank you.
