BITCOIN PRICE UPDATE!!! WHAT WILL BE THE NEXT MOVE?
Hello folks,
Welcome to this another important price update on BTC in 4 hours timeframe.
Thank you for being so supportive. It’s an honor to serve you guys with quality content.
Let's dive into the chart.
BTC showed a massive rally of 12% in a single day. This boosts the entire market up to an extend. We made some good profits on altcoins both in sport and futures.
Currently, BTC is at a heavy resistance level and BTC is finding it hard to break through. We can consider the resistance levels between $47100 to $48700. Looking at the current market, we can assume two scenarios:
Scenario 1: If BTC breaks above the resistance level then it will possibly test the $50k to $52k level.
Scenario 2: If BTC breaks below and starts getting rejected then we may tumble back to $45k, $44k, and even $42k levels.
Another important thing we need to keep an eye on is the RSI. Currently, RSI is at the overbought level, and eventually, it has to come back to the mid-level and the oversold area.
BTC will show some retracement. It can be from the current price levels or after reaching the $50k level. All we need is a close above $48700 to stay bullish.
What do you think about the BTC price move?
Do you think $50k is possible?
Do you think BTC will retest from these resistance levels?
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 price update on BTC in 4 hours timeframe.
Thank you for being so supportive. It’s an honor to serve you guys with quality content.
Let's dive into the chart.
BTC showed a massive rally of 12% in a single day. This boosts the entire market up to an extend. We made some good profits on altcoins both in sport and futures.
Currently, BTC is at a heavy resistance level and BTC is finding it hard to break through. We can consider the resistance levels between $47100 to $48700. Looking at the current market, we can assume two scenarios:
Scenario 1: If BTC breaks above the resistance level then it will possibly test the $50k to $52k level.
Scenario 2: If BTC breaks below and starts getting rejected then we may tumble back to $45k, $44k, and even $42k levels.
Another important thing we need to keep an eye on is the RSI. Currently, RSI is at the overbought level, and eventually, it has to come back to the mid-level and the oversold area.
BTC will show some retracement. It can be from the current price levels or after reaching the $50k level. All we need is a close above $48700 to stay bullish.
What do you think about the BTC price move?
Do you think $50k is possible?
Do you think BTC will retest from these resistance levels?
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.
Expecting some heavy correction. If BTC manages to break above the resistance level then the expectation for some correction will get invalidated.