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I hope you enjoyed the weekend with your friends and family.
Let's get straight to the chart:-
In my previous update, I mentioned that BTC is ready for a rally towards 33k while BTC was trading around 29700+.
BTC did rally to these levels. I would call the rally towards 34785 something that saved BTC from a massive breakdown.
BTC is really looking good in the mid-term.
It already broke out of the channel resistance and currently, it's retesting the blue horizontal zone.
$32.2k to 33.4k is the main for Bitcoin .
I am expecting a rally towards 41k from here.
I know it's a BOLD statement but that is exactly what I see in the current chart.
There's one condition for that Bitcoin , it needs to hold the 32k Level no matter what by the weekly close.
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 update and share your views in the comment section.
I am expecting a retest around 37k level ad then a rally towards breaking the 42k level again.
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Bitcoin is facing resistance right now.
Let's wait for the daily close for a confirmed breakout.
BTCUSDT 12 Hour Chart: The 12 Hour chart looks way better than other TFs tbh.
It is holding the trendline support after the breakout.
IMHO, BTC must continue its uptrend.
This candle closes in 2 hours 45 minutes.
We need to close above the $39k level for the bullish momentum.
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.
BTCUSDT Hourly: BTC must retest to the $40200 level by the end of this weekend.
I am closely monitoring the upcoming weekly candle close.
#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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