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Welcome to this quick BTC update. BTC is pumped very well in the last few days. It touched the $19k level. Now, what's the possible scenario from here? Let's discuss it in this analysis.
As you see in the chart, BTC is forming a bear flag in the daily time frame and currently, at the upper trendline of the flag. I'm expecting a rejection from here.
$19k is a crucial resistance level for BTC. If we get a weekly close above $19k then this flag will be invalidated and then we might see another rally up to the $22k level. But as long as BTC is inside this flag, I'm expecting a dump from here.
What do you think about this? Let me know in the comment section.
If you like this idea then do support it with like and follow.
Thank You!
Welcome to this quick BTC update. BTC is pumped very well in the last few days. It touched the $19k level. Now, what's the possible scenario from here? Let's discuss it in this analysis.
As you see in the chart, BTC is forming a bear flag in the daily time frame and currently, at the upper trendline of the flag. I'm expecting a rejection from here.
$19k is a crucial resistance level for BTC. If we get a weekly close above $19k then this flag will be invalidated and then we might see another rally up to the $22k level. But as long as BTC is inside this flag, I'm expecting a dump from here.
What do you think about this? Let me know in the comment section.
If you like this idea then do support it with like and follow.
Thank You!
Comment:
BTC is pumping really hard and crushing all the resistances in a single shot. I'm completely wrong about the dump and I accept it because I didn't expect this kind of move and IMO no one can expect this move. Those who told you they predict this move then either they are permabull or they kept telling you lies.
Anyways, the thing is that we completely missed this move but no worries, this is crypto. You get the chance every day so be patient and do not FOMO here.
If you are holding any longs then either book your profits or at least move your SL into profit. Or if you are not holding any longs just like me then please stay away from the market for a while and do not listen to anyone. Simply wait for the RED DAYS.
This is my simple plan here. Patiently waiting for the red days.
BTC is pumping really hard and crushing all the resistances in a single shot. I'm completely wrong about the dump and I accept it because I didn't expect this kind of move and IMO no one can expect this move. Those who told you they predict this move then either they are permabull or they kept telling you lies.
Anyways, the thing is that we completely missed this move but no worries, this is crypto. You get the chance every day so be patient and do not FOMO here.
If you are holding any longs then either book your profits or at least move your SL into profit. Or if you are not holding any longs just like me then please stay away from the market for a while and do not listen to anyone. Simply wait for the RED DAYS.
This is my simple plan here. Patiently waiting for the red days.
According to this weekly chart, as you see $19k is a crucial level. We have to flip above it by the weekly close for more bullish movement. A rejection from here will take us to lower areas.