BTC/USDT needed a retracement after weeks of a continuous pump. BTC had finally reached the 44k level support. The 44.5k level happens to be the 21DMA in daily. As long as BTC holds this level daily, a bounce around the 44k level is highly likely. So, it's better to just stay aside and wait for the right time to get into trades. Better stay away from leverage trades when the market is at the decisive point.
Hope you keep an eye on this level.
INVALIDATION:- This Chart will be invalidated if BTC closes below $41900 which is the lowest level of the green support zone.
Note:- A close 38k will ruin this whole bull run.
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Thank you
#PEACE
Comment
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Click on the above chart for the latest BTC update. Thank you
the price must close the weekly candle above it! thanks for sharing
Cryptorphic
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@plancton0618, Yeah, Thanks for your feedback
WP_traders
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Well, it broke it pretty easy.
gal_vaknin1
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I’m not worries in a T.A stand point, i see the nadsaq lossibg structure and recession signals come in, so this line means nothing now, thus we broke it so easily
ivanguzman102
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@gal_vaknin1, Youtube and grandma is calling for a recession and heck even my mom which she has no idea, that just makes me go the other way, this reminds me of when everyone was calling btc 100k in december 2021 I did the opposite, I will be doing it again, i may be wrong but if I am not, the greatest indicator will be do the opposite of what the majority are doing.
gal_vaknin1
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@ivanguzman102 i never believed the 100k by EOY theory either but the dump caught me by surprise. Making decisions through hype and fear is never a good idea . But this isn’t just Youtubers fears the economy will slow down after this 2 year hype bubble when everything goes the moon. Just look at the chart and you’ll see for yourself
ivanguzman102
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@gal_vaknin1, I am open to the posibility that you may be right, regardless i just add it a bit more to my portfolio in this dip, i dont think we are going lower than 42ish, if we have major breakdown, ill be adding again.
gal_vaknin1
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@ivanguzman102 Always scoop these dips. May we enjoy a 100k BTC by 2025
ivanguzman102
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@gal_vaknin1, I am more bullish on 100k i say sometime in 2023 possibly earlier