#BTCUSDT needs to do this to break above $42k..

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Let's get to the chart.

BTC bounced right off the $39200 level.
Everything is aligning perfectly so far.
I am not saying I am bullish because I want to. Just sharing what I see in the chart.

The reason why BTC could start a rally soon:-

1. USDT Dominance is about to get rejected by the resistance.
2. TOTAL MCAP retested perfectly
3. BTC is in the making of a bullish divergence. For that BTC needs to print a low below the $39200 level.
Every time that happened BTC bounced with strong volume. This is why I posted my last chart saying $39200 might not be the bottom.

All I could see is selling pressure around the $40k+ level in BTC.
However, a close above $42k will trigger the rally.

Invalidation:- Losing $35k in a daily candle close.

Nothing is confirmed yet, let me know what you think of this chart in the comments section.
If you like my post or found it helpful do hit the like button.
Always do your own research and learn from other people's work rather than following blindly.


Thank you

#PEACE

Trade active:

BTCUSDT:- BTC looks a bit convincing on daily.
Break above $42k will trigger a positive rally.
Until that happens expect a possibility of a lower low below $39.2k
Nothing much to update here really.
The market is just going sideways.