Hello everyone, if you like the idea, do not forget to support it with a like and follow.
Welcome to this quick BTC update. After the CPI data, BTC quickly pumps above the $22k zone from the important support level of $21.5k level. So what's next?
BTC is forming a falling wedge-like structure in 4hr time frame which is generally a bullish pattern. Currently, it is trading near the upper trendline of the wedge. We need to break and close above this wedge for a bullish breakout. Once it breaks above the wedge we can expect more pump up to $24k from here.
In case of rejection, we might see another retest of the $21.5k level and expect a pump from there.
So the plan is really simple here. Either wait for a breakout or wait for some dip up to the $21.5k level.
Invalidation of this bullish scenario if we get a 4hr close below the $21.3k level.
If you like this idea then do support it with like and follow.
Also, share your views in the comment section.
Thank You!
Welcome to this quick BTC update. After the CPI data, BTC quickly pumps above the $22k zone from the important support level of $21.5k level. So what's next?
BTC is forming a falling wedge-like structure in 4hr time frame which is generally a bullish pattern. Currently, it is trading near the upper trendline of the wedge. We need to break and close above this wedge for a bullish breakout. Once it breaks above the wedge we can expect more pump up to $24k from here.
In case of rejection, we might see another retest of the $21.5k level and expect a pump from there.
So the plan is really simple here. Either wait for a breakout or wait for some dip up to the $21.5k level.
Invalidation of this bullish scenario if we get a 4hr close below the $21.3k level.
If you like this idea then do support it with like and follow.
Also, share your views in the comment section.
Thank You!
