BTC/USDT (Short-term Consolidation?)

💎Technical Analysis Summary💎



BTC/USDT

-The 50k breakout and restest was perfect and hit my potential target of around 57k dollars
-Bitcoin is ready for short-term consolidation again and it failed to go above 58k dollars
-Our guide is the 20MA moving average on 4 hour time frame period
-This has been tested recently the price bounce up by more than 5%
-If BTC will retest this dynamic support again we will have to observe any price rejection
-If it does, I think the 54k-55k area is our new local support
-There is no major red flag today, these are only signs of profit-taking at this high level
-Since Bitcoin's volatility is high, always expect a price movement of more than 5%
-Regarding the Altcoins health, they are still safe provided we will not go below 50k dollars
-We still have few hours left before the weekly candle closes
-And it seems it will close bullish green
-Interesting trading action again for the next 7 days


⚠️Please always read the description⚠️

A big Thanks for donating 💰 via Tradingview coins this week to ahancock 🙏🎉


``````````````````````````````````````````````
Trading Involves High Risk ⚠️
Not Financial Advice 💸
Please Exercise Risk Management 💱
``````````````````````````````````````````````
Thank You All!🙏😊💖For Supporting My Channel 📺
Through Leaving A Thumbs Up, Comment & Follow 💬
Happy Trading!😊💕💖
``````````````````````````````````````````````