#BTC/USDT Broke out on 4th Feb exactly as Expected! PART-II

٧ فبراير ٢٠٢٢

Welcome to this quick update, everyone.
BTC broke on 4th Feb, do you remember the chart that I have posted on 4th Jan?
If not, check it out, I'll leave the link below this update.
Though I got a bit drifted away with the short-term charts, BTC did manage to close above the 38k level making it bullish in the short term.
This was the surprise I have been talking about.

So the question is what's next?

IMHO, BTC broke out nicely and is ready to go up only if can fulfill these conditions:-

1. Holding the 38k level on daily
2. Closing above 21MA in 2 Day chart (15 hours left for the candle to close)
3. USDT dominance breaks and closes below 21 MA in the 2-day chart.
4. Weekly close above 51.5k for new ATH

All this bullishness could end up being a big trap if the 3rd condition doesn't get fulfilled in the next candle closes.

Also, the 38k level has not been tested yet.

So be careful trade mostly the short-term setups.
I'll keep you posted with this chart.

What's your thought on this?
Do hit the like button and share your views in the comment section.



Thank you

#PEACE