Hello Dear Traders,
As Expected in last Idea, Btc dumped frm previous monthly low. As we know many factors involved in this btc sell off. Technically Btc chart was looking very weak frm 2 months. btc was facing major resistance at 60k level and btc went sideways for many weeks. btc gave opportunity to alts to grow further and we seen massive rally in alts. finally after 6-7 months of bull run, Now we can say bull run climax is reached. heavy amount of BTC inflow has been seen into exchanges in last 3 days. Due to Elon musk FUD massive sell off we seen in the market.
Today BTC closed Weekly candle and as expected its strong bearish. On Chart above i have marked a rectangle box, In Jan 2021 before crossing 40k area it was acting as supply zone after breakout frm 40k area now this previous supply zone will act as a demand zone.
in next couple of days we can see btc testing 50k area again. its short-term upside move. i recommend to start profit booking in btc and alts when it rises further.
On monthly btc is strong bearish and soon we will see btc trading near 30k area.
As Expected in last Idea, Btc dumped frm previous monthly low. As we know many factors involved in this btc sell off. Technically Btc chart was looking very weak frm 2 months. btc was facing major resistance at 60k level and btc went sideways for many weeks. btc gave opportunity to alts to grow further and we seen massive rally in alts. finally after 6-7 months of bull run, Now we can say bull run climax is reached. heavy amount of BTC inflow has been seen into exchanges in last 3 days. Due to Elon musk FUD massive sell off we seen in the market.
Today BTC closed Weekly candle and as expected its strong bearish. On Chart above i have marked a rectangle box, In Jan 2021 before crossing 40k area it was acting as supply zone after breakout frm 40k area now this previous supply zone will act as a demand zone.
in next couple of days we can see btc testing 50k area again. its short-term upside move. i recommend to start profit booking in btc and alts when it rises further.
On monthly btc is strong bearish and soon we will see btc trading near 30k area.
