BTC/USDT: Is Now the Time to Bid?

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On the weekly timeframe, the price action of the previous two candles shows serious rejection from the 40-Day EMA. With the monthly candle likely to close above $60,000, the overall market sentiment remains very bullish.

The price of BTC/USDT is currently sitting around $64,000, and I wouldn't bet on it going lower than this. We see a confluence of horizontal structure with the 7- and 13-Weekly EMAs just crossing up at around $64,000. The daily timeframe shows a similar pattern. This appears to be the perfect time to enter, in my opinion. Big moves are around the corner; I can feel it. A price of $88,000 for BTC is very likely to happen in the next few months.

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ملاحظة

BTC is bouncing off very nicely from our bidding zone, but we're not in the clear yet. I'll be happy if we close this week above $67,000.

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ملاحظة

Updated this idea on my new post!