Hello Dear Traders,
In Previous ideas of BTC i analyzed Weekly and monthly candle, I was Expecting downside move of BTC on tht basis of Weekly & monthly candle closing.
But in last 3 days btc moved rapidly upside, Bcoz of Elon Musk bitcoin statements and institutions buying.
Again BTC became strong bullish, Once it crosses 42k we will see btc testing 50k.
50k is strong psychological resistance level like 20k, it will be very hard to cross 50k. so many people will book profit once it touches 50k.
40-42k is bears territory, On daily timeframe we seen strong selling pressure previously from this area. Bears will try hard again to dump from here.
in 2 days weekly candle will be closed & it will close strong bullish.
Will not recommend doing anything above 40k.
In Previous ideas of BTC i analyzed Weekly and monthly candle, I was Expecting downside move of BTC on tht basis of Weekly & monthly candle closing.
But in last 3 days btc moved rapidly upside, Bcoz of Elon Musk bitcoin statements and institutions buying.
Again BTC became strong bullish, Once it crosses 42k we will see btc testing 50k.
50k is strong psychological resistance level like 20k, it will be very hard to cross 50k. so many people will book profit once it touches 50k.
40-42k is bears territory, On daily timeframe we seen strong selling pressure previously from this area. Bears will try hard again to dump from here.
in 2 days weekly candle will be closed & it will close strong bullish.
Will not recommend doing anything above 40k.
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