Hello traders, I hope you all are doing great.
In this update, I am gonna answer all your doubts related to Bitcoin. Out of all the DMs, I have short-listed three questions, 1) Where BTC is heading next? 2) When are we gonna see a bull run in the market? and 3) What is the support and resistance for BTC?
Before we begin, let me clarify that this update is based on my analysis and research. So, do your own research before investing.
Alright, BTC has shown some impressive moves last January and it still continues to hold the $23k level. So far, the market has been doing well and we can expect some more positive rallies in the coming days.
1. Where BTC is heading next?
Ans: If you check the daily timeframe then you will notice that BTC has broken above the resistance trendline. And in this weekly timeframe, BTC is yet to hit the $25k resistance. So, most probably, BTC should hit the $25k target next.
2. When are we gonna see a bull run in the market?
Ans: According to this weekly chat, BTC is already in the uptrend rally and if things go with the bulls then by February to April 2024 we will witness a new all time high on BTC.
3. What is the support and resistance for BTC?
Ans: Currently, there are two support ranges for BTC, $18k to $19k, and $16k. Also, we have a resistance of $25k which is crucial for BTC to break above to continue a higher rally.
Conclusion: BTC must break out above the $25k resistance in order to continue this uptrend. We might see some corrections in between and I will consider it to accumulate more BTC and other major altcoins. BTC has done it before and BTC will do it again so keep believing and keep improving.
In this update, I am gonna answer all your doubts related to Bitcoin. Out of all the DMs, I have short-listed three questions, 1) Where BTC is heading next? 2) When are we gonna see a bull run in the market? and 3) What is the support and resistance for BTC?
Before we begin, let me clarify that this update is based on my analysis and research. So, do your own research before investing.
Alright, BTC has shown some impressive moves last January and it still continues to hold the $23k level. So far, the market has been doing well and we can expect some more positive rallies in the coming days.
1. Where BTC is heading next?
Ans: If you check the daily timeframe then you will notice that BTC has broken above the resistance trendline. And in this weekly timeframe, BTC is yet to hit the $25k resistance. So, most probably, BTC should hit the $25k target next.
2. When are we gonna see a bull run in the market?
Ans: According to this weekly chat, BTC is already in the uptrend rally and if things go with the bulls then by February to April 2024 we will witness a new all time high on BTC.
3. What is the support and resistance for BTC?
Ans: Currently, there are two support ranges for BTC, $18k to $19k, and $16k. Also, we have a resistance of $25k which is crucial for BTC to break above to continue a higher rally.
Conclusion: BTC must break out above the $25k resistance in order to continue this uptrend. We might see some corrections in between and I will consider it to accumulate more BTC and other major altcoins. BTC has done it before and BTC will do it again so keep believing and keep improving.
