BITCOIN IS FULL OF SURPRISES.

After two bearish candles, Bitcoin indicated a possible rejection. While we observed rejection in the lower time frames (LTF), the weekly chart reversed the entire scenario. Bitcoin transformed the bearish red candle into a green one, leaving a long lower shadow, and opening a new candle above $42k. This indicates some positivity in the market and the potential for BTC to bounce back to $47k.

The support and resistance levels will remain the same for both the weekly and daily charts. It is always better to keep the worst-case scenario in mind; in this case, $30k is the worst-case scenario, and a breakdown below $37k will likely be a red alert.

Note: A correction still awaits before the halving.

Do your own research before investing because this isn't financial advice.

Thanks,
Team Dexter.

Comment:

As I mentioned in my weekly update, #BTC is likely to make a positive move, and here we are, from 42K to $43.7k in the last 12 hours. Currently, BTC has a $44k resistance to face before getting any higher. Once we see a breakout and close confirmation above $44k, we’ll see BTC experience a good rally toward $47k. A failure to break the $44k resistance will likely reject Bitcoin back to $40k.

That’s it for now, guys. I hope you find it helpful.

Regards, Team Dexter.

Comment:

#BTC Daily Update:

BTC is still struggling to break the $44k resistance. As mentioned before, BTC needs a daily close above $44k for a higher rally. Until then, the danger of rejection will continue to hover around. Soon, I'll be uploading a video in the weekly timeframe, so stay tuned.

Trade safely.