Don't Panic!! Look at the BIG PICTURE!

Thanks for coming by to this update everyone.
Let’s look at the bigger picture and stop loosing control over short term price fluctuations.
Before I begin with a simple technical part I want to focus on the psychological side of the market.
Bitcoin is trading around 10.6k at the time of writing this update.
Some news about Bitmex is the reason BTC dumped a few hundred bucks.
I need you to understand that these short term pullbacks aren’t important.
Every news you read is planned by operators, they plan their move in advance.
They know what you’re thinking and they’ll always do the opposite of what you think! Yes this is exactly what happens every single minute.
What really matters is how you look at the bigger picture.
I have been saying this again and again in my updates. BTC broke above a very long term resistance and you are thinking of selling because it dumped few hundred bucks? No no no, don’t do that.

Technical Side:

The 21 Weekly moving average is an important indicator to know whether market is turning to the other side. RSI is sitting over the long term support around 51. KEEP AN EYE ON BOTH OF THESE INDICATORS.
Any weekly close and break below 21D Weekly MA which is currently around $10181 would be bad for BTC. IMHO it’s not coming so soon.
9k also happens to be an important support.
Even if we reach that level in a daily chart we can see BTC pushing back up above 10k in weekly leaving just a wick. So don’t make this mistake. Look at the bigger picture. I am also leaving the link to an update where I have plotted why I think BTC could hit $132,000 within May 2022.
I'll also update few short term charts for BTC.
So stay tuned.

If you like this update and need other future updates feel free to hit that like button and she your views in he comment section.

Stay safe


#PEACE

Comment:

DAILY CHART: IMHO BTC can move to the 10.2k level. I see a bearish crossover incoming the MACD however it could become invalid on the daily close above the support trendline.
LONG TERM RESISTANCE TURNED UPPORT TRENDLINE IS STILL HOLDING.
Lower BB is around 10.2k which also happens to be a multi-year resistance turned support trendline makes it a probable entry point for long positions.

Comment:

4 HOUR CHART: Looks like we can touch the lower trendline of the channel around 10.3k and bounce right from that area. Close below 10.2k will be a bearish signal and will invalidate the chart.

Trade active:

Welcome to this quick update.
BTC bounced right off the 200D MA in this 4 hour chart for the short term it looks like BTC could retrace to $10745 and pump all the way to $11150.
If you look at the daily chart for the above scenario we need a daily close above 10890 because the 50 D MA is at that level Break and close will confirm the upside momentum.

If you like this quick update please give it a thumbs up and do follow me for more future updates.

Stay safe

#PEACE

Comment:

BTC Weekly Chart : You see this weekly chart? I don't see it closing above 19891 in the next few hours.
Though this BTC and anything is possible!
We might need to wait for one more week.
The green box is the untested territory. We haven't seen a retracement in this area yet so sooner or later that one is coming for sure.
Will post multiple Time frame charts tomorrow.
Nothing to be worried here. Stay calm and hold your positions in USDT ALTS AND BTC.

Stay tuned