BREAKOUT OR RETEST??? WILL BITCOIN REACH IT'S ALL TIME HIGH?
Hello folks,
Welcome to this another important update on BTC price in 8 hours timeframe.
First of all, thank you everyone for being so supportive. I feel honored to help you guys with my charts and quality content.
In this Tradingview platform, I provide 100% original and thoroughly analyzed content. I like to keep things easy and simple for my viewers.
Now, let's get straight to the chart.
In my previous update (link is in the related ideas section below), I mentioned that BTC is under the rising wedge pattern, and in order to respect this pattern it must reach the $59k resistance level.
Well, It surely did respect the pattern.
So, now what?
Now, according to my analysis, BTC must show some rejection from this level and if it happens then it may possibly go all the way down to Support 3 ($47500). I know, it sounds rubbish but that's what the chart says.
This rejection will only get invalidated if BTC breaks above the $59k resistance level. It can happen now or maybe after some sideways or downward consolidation. Once BTC reaches the $60k level then soon it'll try to test the ATH which will be interesting to see.
I will be happy if my rejection opinion turns out to be wrong, LOL! And if it turns out to be correct then I will rather take it as a buying opportunity.
What do you think about the BTC price move?
Do you think a rejection/correction is coming in?
Do you think BTC could reach its all-time-high?
Do hit the like button and share your views.
Every single likes and comment are highly appreciated and it motivates me to post more quality updates.
See you guys soon with a new update.
Welcome to this another important update on BTC price in 8 hours timeframe.
First of all, thank you everyone for being so supportive. I feel honored to help you guys with my charts and quality content.
In this Tradingview platform, I provide 100% original and thoroughly analyzed content. I like to keep things easy and simple for my viewers.
Now, let's get straight to the chart.
In my previous update (link is in the related ideas section below), I mentioned that BTC is under the rising wedge pattern, and in order to respect this pattern it must reach the $59k resistance level.
Well, It surely did respect the pattern.
So, now what?
Now, according to my analysis, BTC must show some rejection from this level and if it happens then it may possibly go all the way down to Support 3 ($47500). I know, it sounds rubbish but that's what the chart says.
This rejection will only get invalidated if BTC breaks above the $59k resistance level. It can happen now or maybe after some sideways or downward consolidation. Once BTC reaches the $60k level then soon it'll try to test the ATH which will be interesting to see.
I will be happy if my rejection opinion turns out to be wrong, LOL! And if it turns out to be correct then I will rather take it as a buying opportunity.
What do you think about the BTC price move?
Do you think a rejection/correction is coming in?
Do you think BTC could reach its all-time-high?
Do hit the like button and share your views.
Every single likes and comment are highly appreciated and it motivates me to post more quality updates.
See you guys soon with a new update.
تعليق:
BTC update:
Hey guys, welcome to this quick update on BTC price. As per my previous analysis, BTC took the bullish momentum invalidating the rejection in all timeframes. I personally expected BTC to show some rejection but in the end, I am happy that BTC took the bullish turn.
Now, the current scenario shows a breakout, retest, and bounce back situation which is a good thing. If BTC continues to go higher then we may soon see BTC reaching its ATH. On the other hand, a rejection below the current level will indicate a fake-out and a correction for some time.
Things are getting interesting now.
Hey guys, welcome to this quick update on BTC price. As per my previous analysis, BTC took the bullish momentum invalidating the rejection in all timeframes. I personally expected BTC to show some rejection but in the end, I am happy that BTC took the bullish turn.
Now, the current scenario shows a breakout, retest, and bounce back situation which is a good thing. If BTC continues to go higher then we may soon see BTC reaching its ATH. On the other hand, a rejection below the current level will indicate a fake-out and a correction for some time.
Things are getting interesting now.
And my BTC rejection analysis got invalidated. This will be the first time when I am actually happy to see that my chart getting invalidated cause currently, BTC is going to skyrocket. It is unstoppable. If BTC keeps this momentum then very soon we will see BTC to its new all-time high. I am super excited about this and very well prepared.