BTC IS IN ACCUMULATION PHASE! EXPECT A BREAK OUT ON 28th MARCH!!
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Welcome to this BTC/USD update. First of all, there is no need to be panic here. Never decide it's a bull market or a bear market by looking at the small picture, always zoom out your charts and you will get all your answers. I understand you get fed up by looking at so many charts some people say the bull market does not end, some say the bear market starts. Keeping all the emotions aside, I'll try to explain all your answers here in a short way.
Now let's get to the chart.
Here I draw a 2days BTC chart and according to this chart BTC is trading inside a channel. Currently, BTC is trading in a boring accumulation zone but remember these boring accumulation zones always give you more and more opportunity. Once BTC starts its rally you feel left behind if you don't accumulate now.
Why I'm expecting a breakout on 28th march and what will be the target?
1) BTC's previous ATH was $64k and after that when it starts dropping it is moving inside a $30k-$40k range for 78 days so if history repeats itself now I'm expecting a breakout on 28th March.
2) Last time after the break out of its accumulation phase BTC pumps almost 60% so now after breaking the accumulation phase my target will be $72k
So in this accumulation zone holding your BTC and trying to accumulate some good altcoins will be highly profitable IMO.
Invalidation level:- If BTC's 2days candle closes below $36,200 then this chart becomes invalid.
This chart is simply based on TA, logic, fractals, and PA.
This is not financial Advise please use this chart just to make better decisions for your trades.
What do you think about this?
Do you think BTC can reach $72k or the bull run is over?
Share your views in the comment section.
If this chart is helpful for you and if I gave all your answers then do shoot a like button.
Also, share this chart with others.
Thank You!
Welcome to this BTC/USD update. First of all, there is no need to be panic here. Never decide it's a bull market or a bear market by looking at the small picture, always zoom out your charts and you will get all your answers. I understand you get fed up by looking at so many charts some people say the bull market does not end, some say the bear market starts. Keeping all the emotions aside, I'll try to explain all your answers here in a short way.
Now let's get to the chart.
Here I draw a 2days BTC chart and according to this chart BTC is trading inside a channel. Currently, BTC is trading in a boring accumulation zone but remember these boring accumulation zones always give you more and more opportunity. Once BTC starts its rally you feel left behind if you don't accumulate now.
Why I'm expecting a breakout on 28th march and what will be the target?
1) BTC's previous ATH was $64k and after that when it starts dropping it is moving inside a $30k-$40k range for 78 days so if history repeats itself now I'm expecting a breakout on 28th March.
2) Last time after the break out of its accumulation phase BTC pumps almost 60% so now after breaking the accumulation phase my target will be $72k
So in this accumulation zone holding your BTC and trying to accumulate some good altcoins will be highly profitable IMO.
Invalidation level:- If BTC's 2days candle closes below $36,200 then this chart becomes invalid.
This chart is simply based on TA, logic, fractals, and PA.
This is not financial Advise please use this chart just to make better decisions for your trades.
What do you think about this?
Do you think BTC can reach $72k or the bull run is over?
Share your views in the comment section.
If this chart is helpful for you and if I gave all your answers then do shoot a like button.
Also, share this chart with others.
Thank You!
Related Ideas
In 4hr time frame, BTC holding the $39k support so far which is good. If it loses $39k support then we might see a drop to $36,500 and that's the best time to accumulate some good altcoins. Avoid leverage trades as of now or if you take any then try to book profits whenever you can.