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Btc has broken down the rising wedge and currently looking very weak after seeing from different angles.
59.5K is a main key level for BTC and it breaks down that marked support then our next main level is 56K.
Ichimoku cloud support is at the level of 58.5K. Btc also making a bearish flag.
Currently we are in an indecision structure after breakdown as bears...
The price is currently above a very strong support with EMA200.
POC level resistance is at 2.185
Price is also continuously rejecting from the symmetrical triangle resistance
It will pump hard after the breakout 🔥💵🚀
Keep an eye on the breakout for perfect entry.
As we are in the lower lows and market is volatile so we have to keep in mind the major support and key levels at that moment which are currently acting as strong demand and supply zones. The marked key support levels are best for buying and in case they will breakdown we will go into a danger zone and face correction in the marked as this strong demand zone will...
The price is currently consolidating in a symmetrical triangle and staying above EMA 21 , 55 and 89.
MACD is showing signs of weak bearish momentum but still we have to wait for breakout or breakdown, which would be confirmed by further price action
As we have seen a good gain in BTC after bullish divergence and currently the price is trying to break the channel and EMA'S resistance while retesting at the support and looking in a good bullish momentum
If it successfully breakout we will see a good gain in BTC and ALTS.
This is the current short term update for BTCUSDT.
The price is consolidating in a descending channel and have a good uptrend in the beginning which indicates a next uptrend but still we have to wait for a confirm breakout for best entries as the indicators are also in indecision now so better to wait for some further price action
BTC.D is looking good and currently facing a resistance and if it able to break it we will see a good gain in ALTS and that condition is aligning with BTC current resistance
MACD is also bearish that is also a good sign for ALTS
Keeping all this in view we can see a good gain in ALTS if it breaks the current resistance
This might be the next possible move for BTC if we consider expanded flat in the wave 2, so I have marked wave 3, and then 4 and 5.
So we have to trade cautiously until the weekly and monthly candle closure.
Currently BTC is in indecision as we are seeing the spinning top candle at weekly chart so weekly closure is very important for BTC
As we can clearly see the breakout of channel and bull flag at 4H TF which is a good sign if we see a successful retest
So we have to be neutral in that crucial levels
A good breakout with retest above 50K is a very good sign for...
The price is currently rejecting from the resistance and if it continues to reject then it might form a head and shoulder pattern but as we are seeing good momentum in LUNA and its best to take entry after breakout and retest, if see a successful breakout and retest then I have marked my targets.