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15 HOURS BACK, In my last BTC update I speculated a move towards 41k level.
The pump was unexpected to me, I did expected a rally but not this fast to be honest!
BTC perfectly reached the 40k level last night with a huge green candle.
The market looks really .
However, for a sustainable continuation pullbacks are very important in an uptrend.
Don't get carried away with the FOMO.
IMHO BTC must retrace to the 35k to 36k are and then continue to the upside eventually reaching the 41k level.
If not we will see a continued rally to the 40k level and then a rejection to the 35k level.
IMHO, A retracement to the 35k level would be very healthy for BTC .
What's your thought on this?
Do you BTC will break the 41k level too?
Do hit the like button and share your views in the comment section.
As I said in my post a retest is due hence we just saw a rejection.
I am expecting a retest around 37k level ad then a rally towards breaking the 42k level again.
All we need is a daily close above this trendline resistance.
Better if we close above 39k.
Until then BTC looks weak.
The weekend is near I don't know If should stay bullish.
Better not to hold many positions as I said earlier today.
We will wait for BTC to show us direction in order to enter trades.
#Bitcoin : Hit a $40600 low a few minutes back. I was waiting for this retracement as I told you.
IMHO multiple retests are likely before the weekly close.
We need a close above 41.2k level.
This will confirm an uptrend in Higher TFs too.
Let's wait for the weekly close I'll keep this chart updated.
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