Welcome to this quick Update, everyone. If you are reading my updates for the first time do follow me to get more complex charts in a very simplified way. I also post altcoin setups on Spot, Margin, and Futures. In my last BTC update that I posted on September 23rd I warned all of you regarding. this 38k demand zone. When everyone was waiting for 38k it's highly likely it isn't coming. The second scenario worked perfectly and we bounced from the 40k area. Everyone was talking about it and what happened? This level never came! This is why understanding the psychology of the market is as important as looking at the charts. Currently I expect BTC to hit the 44k to 45k level and then bounce from there.
IF YOU ARE ABOUT TO FOMO, WAIT! IF you sold BTC at 43k levels in order to buy lower, Wait for the Retest! Every altcoin is breaking out and now and the retest is highly likely.
Before everyone starts calling 100k by the EOY keep one condition in mind, BTC needs to break above the red trendline resistance in order to rally for a new ATH.For now the level is around 52k.
Every pump till 52k levels will end up being a trap unless we close above 52k in weekly.
SO trade cautiously and maintain proper Risk management. Those it's good to make the most out of opportunities but be fearful when everyone is greedy.
The last quarter is profitable most of the times so we we will keep an eye on it and post the best profitable trades here and in my tg channel.
What's your thought on this?
Do you think this correction is over? Do you think BTC could easily pump from here?
Do hit the like button if you like this Analysis and share your views in the comment section.
Thank you
#PEACE
Trade active
⋅
THIS IS THE LATEST VERSION, CLICK on this chart to understand the other side of the game and must share it with others.
Outlook: Favoring the wave 2 low is in place at $39656.42, but still want to see BTC exceeding the $48791.96 key level to bolster confidence.
Analysis: Today's breakout strongly favors the wave 2 bottom was made at $39656.42, and we are keeping the focus on the upside against that level. For confidence sake, there's still one hurdle we want to see it exceed - the key level at $48791.96.
Ehsan_1307
⋅
I don’t believe this uptrend as a real bull run. Volume is still too low, USDT at its channel bottom, etc. Bull run ended on Apr 2021 and in a big picture these uptrend can be considered as a pull back. Also crypto market usually has 3years uptrend and now we are at the end of year 3. The year 2022 would be bearish.
Generally, I believe we go down to kiss 20k.
Izzezad
⋅
@Ehsan_1982, i know u miss the train bro.. dont trade ya
Ehsan_1307
⋅
@Izzezad, I never miss any good train in this market. Actually when you are on the train happily going up like 1 meter, then I get in to goes down with this train about 10 meter. And it’s nice to have you on the board.