Hey all.
I want to share this new idea about BTC.
It has been strong lately and went from 40k to 60k in 2 weeks.
Even though the overall market seems to be super bullish for the next few weeks (so am I), I still believe we need to do a last correction before going to a new ATH.
Volume is not that high and even keeps on lowering, yet the price increase... This is not an healthy growth and it will definetely need a correction soon in the next coming hours-days.
As you can see on the chart, BTC is ranging in a sort of ascending channel (blue).
Closing 4h candles above 61k would definetely cancel this chart. If not, there is a high chance that it will go down to 53-55k area. Breaking this channel by the bottom would bring us, in my opinion, quite quickly to the strong 48-50k support.
All key levels are on the chart.
This is not an investment advice, I'm just sharing my thoughts to keep track of my own analysis and to keep on progressing!
Good luck everyone! :)
I want to share this new idea about BTC.
It has been strong lately and went from 40k to 60k in 2 weeks.
Even though the overall market seems to be super bullish for the next few weeks (so am I), I still believe we need to do a last correction before going to a new ATH.
Volume is not that high and even keeps on lowering, yet the price increase... This is not an healthy growth and it will definetely need a correction soon in the next coming hours-days.
As you can see on the chart, BTC is ranging in a sort of ascending channel (blue).
Closing 4h candles above 61k would definetely cancel this chart. If not, there is a high chance that it will go down to 53-55k area. Breaking this channel by the bottom would bring us, in my opinion, quite quickly to the strong 48-50k support.
All key levels are on the chart.
This is not an investment advice, I'm just sharing my thoughts to keep track of my own analysis and to keep on progressing!
Good luck everyone! :)