#BTC/USD BULLISH or a Trap? $52,800 Target Incoming?
Welcome to this BTC Update everyone.
After a long time on your demand, I am back with some educational as well as profitable Trade setups and Charts.
Let's make this chart simple.
In this chart, we have an ascending Triangle though the breakout confirms the direction of the trend. Why do I think that we can see a 53k level price and what could be the Invalidation level?
1.Too much Fear in the Market: People are too scared to be bullish now. Choppy wicks through the downside show buying momentum.
2. Higher Highs and Higher Lows.
3. 21D MA crossing over the 50D MA. Bullish Crossover. The last Bearish crossover was around $56693 which triggered the downtrend (It's shown in the chart).
4. People are expecting 27k 22k and even 12k price targets right now. We never know if that could happen but looking at the current scenario it isn't likely.
these are the reasons why I think BTC could break to the upside and we can see a good rally for Bitcoin. As per the pattern, it could be all the way to 53k level.
INVALIDATION :
Close below 34.7k
Get's rejected from the 38.3k level. We need a break above this tentative resistance level.
The current situation of the market is too uncertain. I know things have been hard for all of us but I would like to remind you just one thing that it's more important for us to preserve capital rather than trying to revenge trade and make our all money back.
It's too hard and Risky.
Wait for the right time to make a move.
If you like this update do hit that like button, follow me for more updates and share your views/Charts in the comment section.
It takes a lot of time to prepare these contents.
Thank you all for reading.
Stay safe
#PEACE
After a long time on your demand, I am back with some educational as well as profitable Trade setups and Charts.
Let's make this chart simple.
In this chart, we have an ascending Triangle though the breakout confirms the direction of the trend. Why do I think that we can see a 53k level price and what could be the Invalidation level?
1.Too much Fear in the Market: People are too scared to be bullish now. Choppy wicks through the downside show buying momentum.
2. Higher Highs and Higher Lows.
3. 21D MA crossing over the 50D MA. Bullish Crossover. The last Bearish crossover was around $56693 which triggered the downtrend (It's shown in the chart).
4. People are expecting 27k 22k and even 12k price targets right now. We never know if that could happen but looking at the current scenario it isn't likely.
these are the reasons why I think BTC could break to the upside and we can see a good rally for Bitcoin. As per the pattern, it could be all the way to 53k level.
INVALIDATION :
Close below 34.7k
Get's rejected from the 38.3k level. We need a break above this tentative resistance level.
The current situation of the market is too uncertain. I know things have been hard for all of us but I would like to remind you just one thing that it's more important for us to preserve capital rather than trying to revenge trade and make our all money back.
It's too hard and Risky.
Wait for the right time to make a move.
If you like this update do hit that like button, follow me for more updates and share your views/Charts in the comment section.
It takes a lot of time to prepare these contents.
Thank you all for reading.
Stay safe
#PEACE
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