Cryptorphic

#BTCUSD Eyes on $39,400 .. Here's Why?

Long
BINANCE:BTCUSDT   Bitcoin / TetherUS
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Let's get to the chart,
Bitcoin is trying to break the 41k level and getting rejected multiple times.
As per the chart, BTC already broke out with a successful close above 39400.
ALL WE NEED IS BTC TO STAY ABOVE 39400 in order to remain bullish .
However, it's important to be careful when you see 7 green daily candles in a row you can expect some red as well.
ALTHOUGH THE CHART IS VERY BULLISH We need to be careful here with leveraged positions.

Conclusion: BTC is bullish and must continue to the upside. Expect some consolidation down the line.
The invalidation would be a daily close below 37.4k.
If this happens all this pump would end up being a parma BULL Trap! That's unlikely IMO. So chill out :)

Upper Resistance Levels are:-

$44810
$47445
$48986

What's your thought on this?
Do you think Bitcoin's new ATH is coming?

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#PEACE



Comment: BTC needs to close above the resistance trendline in daily to continue the bullish momentum.
Bitcoin is facing resistance right now.
Let's wait for the daily close for a confirmed breakout.
Stay tuned

Comment:
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.
Comment: #Bitcoin: Looks like the journey is going to be shaky.
This candle closes in 2 hours 40 minutes.
We need to close above the $39k level for the bullish momentum.

Comment:
All we need is a daily close above this trendline resistance.
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.

Stay tuned
Comment: BITCOIN IS READY FOR A MEGA RALLY BUT ON FEW CONDITIONS: READ THE LATEST UPDATE BY CLICKING ON THIS CHART.

Trade active:
BTCUSDT Hourly: BTC must retest to the $40200 level by the end of this weekend.
I am closely monitoring the upcoming weekly candle close.

Stay tuned
Trade active:
#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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