Bitcoin is respecting its ascending channel on the Daily time frame.
First thing to lookout for is the critical resistance levels at:
$50,000 - $52,000
Until we do not cross these levels the price will still move sideways for a bit.
Midline on ascending channel is also acting as a strong resistance level, meaning if we do happen to consolidate above 52,000 on the daily time frame, we would have to monitor the midline to see if price rejects or conquers that level.
Midline channel could be around ($54,000 - $55,500).
There is still a CHANCE to touch the channel support around ($44,000 - $46,000) before we actually break resistance level.
🔮💫 THE MAGIC PRINTER 💫🔮
The U.S Senate just passed the $1.9 Trillion Stimulus Package!!
According to a few news articles we could see stimulus checks start to be rolled out anywhere between MARCH 15th - MATCH 22nd
Many people will be receiving this stimulus check who honestly don't even need it. Majority of these individuals are going to throw a good portion of there checks right into crypto & the stock market.
April 17th 2020, many Americans had received there stimulus check. Looking back, we saw a 50% increase in the price of BTC before its next pull back.
There is a good chance we can see a breakout of the ascending channel to continue to the higher 70,000 - 80,000 area. (another 50% increase)
👆 These are just speculations 👆
Enter trades after confirmation. DO NOT FOMO.
First thing to lookout for is the critical resistance levels at:
$50,000 - $52,000
Until we do not cross these levels the price will still move sideways for a bit.
Midline on ascending channel is also acting as a strong resistance level, meaning if we do happen to consolidate above 52,000 on the daily time frame, we would have to monitor the midline to see if price rejects or conquers that level.
Midline channel could be around ($54,000 - $55,500).
There is still a CHANCE to touch the channel support around ($44,000 - $46,000) before we actually break resistance level.
🔮💫 THE MAGIC PRINTER 💫🔮
The U.S Senate just passed the $1.9 Trillion Stimulus Package!!
According to a few news articles we could see stimulus checks start to be rolled out anywhere between MARCH 15th - MATCH 22nd
Many people will be receiving this stimulus check who honestly don't even need it. Majority of these individuals are going to throw a good portion of there checks right into crypto & the stock market.
April 17th 2020, many Americans had received there stimulus check. Looking back, we saw a 50% increase in the price of BTC before its next pull back.
There is a good chance we can see a breakout of the ascending channel to continue to the higher 70,000 - 80,000 area. (another 50% increase)
👆 These are just speculations 👆
Enter trades after confirmation. DO NOT FOMO.
