Although we are looking bullish on BTC right now, there are no confirmations that we will keep heading towards the bullish market. From the chart, we can see that BTC is nicely holding up inside the triangle, and heading towards the top for a breakout. But before it moves towards the resistance line of the triangle, it has to cross EMA 50 and EMA 200. We have a lot of resistance going up, but lets hope we make it out of the triangle. If it fails to break out of it, we might be heading down for more consolidation possibly towards 5K - 6K.
Keep following the chart, and I will keep updating it as and when needed.
Happy Trading!
Keep following the chart, and I will keep updating it as and when needed.
Happy Trading!
Comment:
So BTC was not able to bypass the EMA 50 level, and now it is dropping to the next support of 8130. If that fails, below are some other updated support levels:
Comment:
It is nicely following the main chart. BTC is at a position now where if it doesn't break out of the triangle, we are going down for another run. Keep an eye on it. Will keep updating this.