WHAT IF BTC RALLY 50% FROM HERE? IS 90K POSSIBLE?
Hello folks,
Welcome to this another important update on BTC price in 8 hours timeframe.
First of all, thank you everyone for being so supportive. I feel honored to help you guys with my charts and quality content.
In this Tradingview platform, I provide 100% original and thoroughly analyzed content. I like to keep things easy and simple for my viewers.
Now, let's get straight to the chart.
Yes! The title might surprise you a little bit but hey, this is crypto, my friend and anything is possible here. According to the chart, the current BTC price action is nothing but a retest after the breakout. I already mentioned in my previous chart the rising wedge pattern and how it broke above it. The chart was slightly different from this one but it serves the same purpose.
Ok so, what if this is a breakout and a retest for BTC? And what if a bounce is coming in for BTC?
If the bounce is coming in for BTC then the expectation is 50% because in the lower channel BTC bounced twice and both the bounce was around 60% to 70%. I highly anticipate this to happen but as a trader, I cannot simply look at one side of the coin. Both sides are equally important.
Considering the above-mentioned point, what would be the invalidation point for this 50% rally?
Well, if BTC breaks down below the 21 MA and closes below it then I will consider the 50% rally to be invalid depending on the situation.
That's it with my thoughts and analysis.
Do share your views.
What do you think about the BTC price move?
Do you think BTC will rally higher? or is BTC done with the $67k ATH?
Do hit the like button and let me know your thoughts in the comment box.
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 8 hours timeframe.
First of all, thank you everyone for being so supportive. I feel honored to help you guys with my charts and quality content.
In this Tradingview platform, I provide 100% original and thoroughly analyzed content. I like to keep things easy and simple for my viewers.
Now, let's get straight to the chart.
Yes! The title might surprise you a little bit but hey, this is crypto, my friend and anything is possible here. According to the chart, the current BTC price action is nothing but a retest after the breakout. I already mentioned in my previous chart the rising wedge pattern and how it broke above it. The chart was slightly different from this one but it serves the same purpose.
Ok so, what if this is a breakout and a retest for BTC? And what if a bounce is coming in for BTC?
If the bounce is coming in for BTC then the expectation is 50% because in the lower channel BTC bounced twice and both the bounce was around 60% to 70%. I highly anticipate this to happen but as a trader, I cannot simply look at one side of the coin. Both sides are equally important.
Considering the above-mentioned point, what would be the invalidation point for this 50% rally?
Well, if BTC breaks down below the 21 MA and closes below it then I will consider the 50% rally to be invalid depending on the situation.
That's it with my thoughts and analysis.
Do share your views.
What do you think about the BTC price move?
Do you think BTC will rally higher? or is BTC done with the $67k ATH?
Do hit the like button and let me know your thoughts in the comment box.
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.
