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Let's get to the chart.
In my previous update, I speculated BTC is likely to break the 41k level sooner or later and it played out perfectly.
What could we expect from here?
Since it's the weekend I expect BTC to make multiple retests to the lower 40k levels, $40,200 to $41,200 in order to kick out the high leveraged longs.
Important support level: $39400 and $40700
The resistance levels have been plotted in the chart itself.
BTC is highly likely to maintain these levels.
ALL WE NEED IS THIS WEEKLY CANDLE TO CLOSE ABOVE 41.4k. AND LOOKING AT THE CHART THIS SCENARIO SEEMS LIKELY.
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 if you like this update and share your views in the comment section.
BTCUSDT Hourly: BTC must retest to the $40200 level by the end of this weekend.
I am closely monitoring the upcoming weekly candle close.
#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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