BTC Update for Short term and Mid term
I have two view of points for BTC in Short term and Mid term.
1️⃣ st View of point --
✅ BTC is walking into a ascending Triangle in 1W TF which is technically bullish. So if break upside long TP will be around 77K(+25% from current price). This target is also supported by FIB👇👇
✅ If breaks downside, Short TP will be around 40K(-30% from CMP). This is also supported by EMA strategy 👇👇
✅ If Don't break any side,BTC will walk sideways for 6-10 Weeks into the triangle.
2️⃣nd view of point --
BTC is walking into a Ascending Triangle and technical resistance is around 68K. But before that resistance, psychological resistance comes at around 64K which is most important resistance.
✳️✳️✳️ In conclusion, BTC is both bullish and bearish in short term. I will play with cautious in this situation. If BTC crosses the ascending Triangle resistance around 60K,I will wait for breaking out the most important Phycological resistance. If breaks and 1W closes above it, BTC will be much safer. But if BTC get rejected from Phycological resistance, i will wait to buy the dip. So BTC is in very Danger zone imo. So i would like to play safe. Because for me saving capital comes first than profit making.
A like is always appreciated. Thanks❤️
1️⃣ st View of point --
✅ BTC is walking into a ascending Triangle in 1W TF which is technically bullish. So if break upside long TP will be around 77K(+25% from current price). This target is also supported by FIB👇👇
✅ If breaks downside, Short TP will be around 40K(-30% from CMP). This is also supported by EMA strategy 👇👇
✅ If Don't break any side,BTC will walk sideways for 6-10 Weeks into the triangle.
2️⃣nd view of point --
BTC is walking into a Ascending Triangle and technical resistance is around 68K. But before that resistance, psychological resistance comes at around 64K which is most important resistance.
✳️✳️✳️ In conclusion, BTC is both bullish and bearish in short term. I will play with cautious in this situation. If BTC crosses the ascending Triangle resistance around 60K,I will wait for breaking out the most important Phycological resistance. If breaks and 1W closes above it, BTC will be much safer. But if BTC get rejected from Phycological resistance, i will wait to buy the dip. So BTC is in very Danger zone imo. So i would like to play safe. Because for me saving capital comes first than profit making.
A like is always appreciated. Thanks❤️
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