BTC/USDT - The start to the current position of bitcoin in the rising channel indicates the price action with bullish patterns formation. Most of these listed patterns that have played out are double bottom and bullish divergence. Presently, the two patterns are in play but the second bottom got rejected at its first trial to break the resistance level($48.1k - $48.5k). Bitcoin seems to be making a pullback to $46.8k(support level), if support fails to hold price is plausible to fall drastically to the indicated spots on chart and if support holds, it's likely we see an uptrend reversal for another trial to break above the resistance level. All info on patterns, price targets and all have been provided on chart so observe well before taking any position.
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Your likes and opinions would be much appreciated, you can follow up for more helpful contents and do follow my comment sections too for quick updates.
Trade active:
Btc has successfully retested the support level($46.5k) and 200 EMA. Price reacted positively to the downtrend and now it's likely btc starts a fresh bull trend if it breaks the key resistance level at $48.1k - $48.5k
Trade active:
Bitcoin has broken the key resistance level and a fresh bull trend has started just as predicted some hours ago. The next resistance level is $49.2k and if it breaks then we'd see a new high in bitcoin.
Trade closed: target reached
