#BTCUSDT WHAT IF? 38k isn't coming?

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.

Let's keep this chart short and simple,
I see everywhere people waiting to buy BTC around 38k!
So people who sold around 40k are waiting to buy lower.
IMHO 38k isn't coming yet until 40k holds.
40k could possibly be the bottom for BTC right now.

I expect two scenarios to work here:-

Scenario 1: BTC breaks 45.6k with some sideways consolidation and we see 48k soonish.

Or, Scenario 2:- BTC could get rejected from the channel resistance and retest the 40k level to start the continuation of the trend.
LOGIC BEHIND THIS?
People are getting bullish now so opening longs Once more high lev longs are opened,
BTC goes down to 40k to liquidate them and grab late shorts to start the pump again and liquidate them too before the rally begins.
All those who sold the 40k bottom would end up buying higher again!

IF YOU ARE NEW TO TRADING, THIS MIGHT BE TOO MUCH TO GRAB but it's important to put both your charts and logic at the same time to get that edge.

So plan your trades accordingly!
I am glad my community didn't dell a single BTC when it dipped.
Rather we knew this pump would happen when we posted the bullish divergence chart in hourly around 42k level. So we got into some altcoin positions with massive profits!

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!
It gives me the motivation to put more effort into these important updates, Time to time.
If you like this Analysis and share your views in the comment section.

Thank you


#PEACE


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So far BTC looks good to me.
As long as BTC holds the 43k mark. THE GREEN SUPPORT ZONE.
47k target is on board.
Alts will follow we could get some good opportunities on Altcoins with some wicking on both sides.
Eventually, a good weekend for altcoins is likely.

$DYOR

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The China FUD has been going on for years.
Still, the retail reaction is massive on this news.
So far BTC is following the Second scenario.
As long as 40k holds we can expect some consolidation and eventually a breakout.

Trade active:

BTC Quick update:- Bullish momentum in the lower time frame.
Our speculated path is on spot.
BTC is following the second scenario so far.
Dumped right onto the 40k mark and bounced above 42k again.
Keeping an eye on the weekly close.
Will post a new chart as soon as it closes.

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As long as 40k level holds, BTC is likely to follow the second Scenario.

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