After our last short-term update for BTC, The bears showed some strength and they pushed the price to 30K and to 28K zone also, Although that, bulls don`t let them close below 30K and they pushed the price to 34K after that about +15% from 30K zone!! which was a good scalping for traders from the 30K zone that we mentioned in the last update. Based on our TA, This was an expected movement of bulls from 30K levels,( But that fake breakdown to 28K was not expected)
Anyway, the current movement shows bulls failed to breakout this trend line which created from the 42K zone (the update were ready to publish in last night from 34K but we got busy with some family matters)
Also, if we look closely at 4/6/12 H TF we can identify An Descending triangle (continuation pattern we already drew in our charts earlier) Which means if bulls back above 37K weekly we can see BTC price rais to 51K, and in the case, if the bears push down price below 30K Daily or Weekly we will see 25K/22K as next support !! All of these movements in the chart indicate the important levels for the current movement, at 30K (Bearish condition) 37K (Bullish condition) this what you should care about.
Current action: San already posted scalping based on price movement at the 31K zone and that enough for now.(Be sure you follow risk management)
Next Movement Prediction!! Our bearish view from 42K still active and based on the current performance for bulls on the Weekly and Monthly frame,I still believe the bears will push the price below 28K and probably the current and first week of February will be bearish for btc. This prediction will fail if BTC closes above 37K weekly ( During that we trade with movement).
Ps: We don't short btc or using leverage or trading BLV tokens!! our signals for spot trading only. Also, The TA updates is an explanation for market movement(not mean buy or sell) We will tell you to buy or not through a clear signal with clear targets and stop-loss risk management, etc, not anything else.
This is not financial advice, The purpose of these Charts to give you an idea about coin movement (not buy or sell signal) so before following any idea be sure to do your own research, and follow your risk management. Also, the information we mentioned here is a personal effort that is subject to success or failure and we welcome constructive criticism.
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Good luck to all. we ask Allah reconcile and repay🙏
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#BTCUSDT Short-term update
Bears failed to close below 30K daily, and the price rebound again but this time with a breakout for this trendline from 42K !!
in the last update, we explained the bullish and bearish conditions for movement and we have identified the important levels for it at 30K/37K
Current movement, 37K is strong resistance and key for 51K if bulls closed above it monthly if they fail to do that, and btc closed below 35K this will be a bearish sign in a monthly frame and supports bears. for now, we looking for a retrace from 37K to $35/34K
About our prediction, it's still valid as long as BTC didn`t close above 37K weekly/monthly.
Current action: If you traded 30K be sure you book some profit, the last signal we shared at 30K hit Sl at 29K in candlewick then price rebound as you see right now.
Ps: We don't short btc or using leverage or trading BLV tokens!! our signals for spot trading only. Also, The TA updates is an explanation for market movement(not mean buy or sell) We will tell you to buy or not through a clear signal with clear targets and stop-loss risk management, etc, not anything else.
Good luck to all. we ask Allah reconcile and repay🙏