Hello folks,
Welcome to this another important update on BTC price.
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.
In my previous update I mentioned about the 50% rally giving all the possible scenarios. Sadly, the chart turned out to be different and it rather broke below the 21 MA.
But here's some interesting moves which is still valid and can make a bullish move. The 50 MA, it is acting as an important support for BTC and a continuous rally can easily bring the price back to $64k, & $66k or even a new ATH.
The big obstacle I see is the formation of bearish crossover between the 21 & 50 MA and also the 21 MA which is acting as a resistance right now. If at all BTC gets rejected then it will drop the price till $57k, $55k, $53k, and in worse care scenario $50k. I am sure this drop will be more than enough to start a blood bath in the altcoins.
So, long story short, $60k is a very important support for BTC. Breaking down below $60k will be a red alarm for the market and a break out above the 21 MA ($62500) will be all good for the market.
Well, that’s all from my end. If you have any queries or doubts then do comment me on the comment box.
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.
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.
In my previous update I mentioned about the 50% rally giving all the possible scenarios. Sadly, the chart turned out to be different and it rather broke below the 21 MA.
But here's some interesting moves which is still valid and can make a bullish move. The 50 MA, it is acting as an important support for BTC and a continuous rally can easily bring the price back to $64k, & $66k or even a new ATH.
The big obstacle I see is the formation of bearish crossover between the 21 & 50 MA and also the 21 MA which is acting as a resistance right now. If at all BTC gets rejected then it will drop the price till $57k, $55k, $53k, and in worse care scenario $50k. I am sure this drop will be more than enough to start a blood bath in the altcoins.
So, long story short, $60k is a very important support for BTC. Breaking down below $60k will be a red alarm for the market and a break out above the 21 MA ($62500) will be all good for the market.
Well, that’s all from my end. If you have any queries or doubts then do comment me on the comment box.
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.
