Hello everyone, if you like the idea, do not forget to support with a like and follow.
Welcome to this BTC update. BTC is bouncing off nicely from the $30k level so far and holding above $31k very well.
BTC is forming a descending channel like pattern in the 4hr time frame where breakout of this channel is still pending. Once BTC breaks this channel we can expect a good bounce. BTC has a resistance at $37.5k so in the short term we might see a pump up to $37.5k after breaking out from the channel.
For successfully playing out this scenario BTC needs to stay above $30k. If any 4hr candle close below $30k will invalidate this pattern.
If you like this idea then do support it with like and follow.
Also, share your views in the comment section.
Thank You!
Welcome to this BTC update. BTC is bouncing off nicely from the $30k level so far and holding above $31k very well.
BTC is forming a descending channel like pattern in the 4hr time frame where breakout of this channel is still pending. Once BTC breaks this channel we can expect a good bounce. BTC has a resistance at $37.5k so in the short term we might see a pump up to $37.5k after breaking out from the channel.
For successfully playing out this scenario BTC needs to stay above $30k. If any 4hr candle close below $30k will invalidate this pattern.
If you like this idea then do support it with like and follow.
Also, share your views in the comment section.
Thank You!
