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Welcome to this quick BTC update. BTC is moving in a range of
27K-$30k for many days. So what's next from here?
BTC is forming a symmetrical triangle-like structure in the daily time frame and once again it got rejected from the upper trendline of the triangle. We have two important supports below. One is at around27K and another one is at around $FWB:25K level.
IMO BTC holds the first support of27K and we might see a quick bounce from there. For a bullish scenario, we need a clear breakout of this triangle. As of now let's see how the price reacts after reaching the 27K level.
Invalidation:- Daily close below27K
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. BTC is moving in a range of
27K-$30k for many days. So what's next from here?BTC is forming a symmetrical triangle-like structure in the daily time frame and once again it got rejected from the upper trendline of the triangle. We have two important supports below. One is at around
27K and another one is at around $FWB:25K level. IMO BTC holds the first support of
27K and we might see a quick bounce from there. For a bullish scenario, we need a clear breakout of this triangle. As of now let's see how the price reacts after reaching the 27K level. Invalidation:- Daily close below
27KIf you like this idea then do support it with like and follow.
Also, share your views in the comment section.
Thank YOu!
Note
BTC holding the
27K support so far and as I said in my previous update as long as we hold above the 27K level chances for a bounce are high from here. Tomorrow CPI data will come out and I'm expecting a positive outcome of CPI data. However, we might see a quick dump before or around CPI and after that, we might see a quick pump.
Let's see how the market reacts tomorrow. Will keep updating you.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.