BitcoinLong
CAN BTC REACH $50K?
Updated
Welcome folks to this important update on BTC.
In the previous 4 hours chart update, I clearly mentioned the fall or a bounce in BTC price and we all know that BTC took a nice bounce from the 100 MA. Now, let us look into this chart which indicates some positivity in the market.
The lower trendline (acting as a support) is close to the 100 hourly moving average. This is the exact supporting trendline from where BTC bounced twice and gave a massive gain of 25% to 30%. Now, the interesting thing is BTC once again bounces back from the exact same supporting trendline, and if by any chance BTC gains 25%, ok 15% from the bounce then we will enter the 50k price level.
Okay, now let us look at the invalidation point.
There's only two invalidation point, 1) The 100 MA with lower trendline, and 2) The Horizontal support line at 44k. If BTC breaks below these levels (which is 5-6% below the current price) then the chart will be invalid.
I am biased towards the bullish side and if the rally continues then by the end of this week we may see BTC at 50k.
Adiós for now and hopefully see you guys soon in the 50k.
What are your thoughts on BTC? What your T.A says?
Do share your ideas in the comment section and also like this chart.
Thank you.
In the previous 4 hours chart update, I clearly mentioned the fall or a bounce in BTC price and we all know that BTC took a nice bounce from the 100 MA. Now, let us look into this chart which indicates some positivity in the market.
The lower trendline (acting as a support) is close to the 100 hourly moving average. This is the exact supporting trendline from where BTC bounced twice and gave a massive gain of 25% to 30%. Now, the interesting thing is BTC once again bounces back from the exact same supporting trendline, and if by any chance BTC gains 25%, ok 15% from the bounce then we will enter the 50k price level.
Okay, now let us look at the invalidation point.
There's only two invalidation point, 1) The 100 MA with lower trendline, and 2) The Horizontal support line at 44k. If BTC breaks below these levels (which is 5-6% below the current price) then the chart will be invalid.
I am biased towards the bullish side and if the rally continues then by the end of this week we may see BTC at 50k.
Adiós for now and hopefully see you guys soon in the 50k.
What are your thoughts on BTC? What your T.A says?
Do share your ideas in the comment section and also like this chart.
Thank you.
Note
In case, if you missed my previous chart.
Note
BTC is moving as expected.
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