BTC - In Critical Zone
BTC recently Dumped 25% in last few days. And staying in a very critical Zone. Bulls have to show their power here for farther upside movement.
From this stage BTC can follow any path i have mentioned on the chart. 3 ways to go. White, yellow and blue. BTC have to decide which way it will walk from here.
BTC is currently staying on the local demand zone which is in 43.5K-48K. One green candle above 48K will make BTC strong and BTC Won't go 43.5K. But One red caudle closes below 48K can make BTC to visit around 44K. Anyways BTC will follow yellow road until it is going below 44K.
And two daily red candles below the local demand zone or below 42K will make BTC to visit around 30K-33K because strong demand zone is staying on 30K-33K area. Demand zone Between local demand zone and strong demand zone is very weak. Anyways if BTC goes bellow 42K,it will follow the blue road.
Local Supply zone is around 55K-58K. If 1D candle gets rejected from this supply zone and closes below the supply zone,BTC will follow the yellow road. Again if it closes above supply zone,it will follow the white road.
I expect BTC to follow the White road. Because there are some strong reason why I'm still bullish. I described the reasons in my previous BTC chart. I will add the link of my previous BTC uodate.
In the end, I just want to say BTC is not bearish. BTC is still bullish. This will be considered as healthy correction until it goes below 42K. And If BTC crosses the present ATH in next 2 weeks,May is going to be superb for BTC.
A LIKE and FOLLOW is always appreciated.
Thank you❤️
Previous BTC update👇👇
From this stage BTC can follow any path i have mentioned on the chart. 3 ways to go. White, yellow and blue. BTC have to decide which way it will walk from here.
BTC is currently staying on the local demand zone which is in 43.5K-48K. One green candle above 48K will make BTC strong and BTC Won't go 43.5K. But One red caudle closes below 48K can make BTC to visit around 44K. Anyways BTC will follow yellow road until it is going below 44K.
And two daily red candles below the local demand zone or below 42K will make BTC to visit around 30K-33K because strong demand zone is staying on 30K-33K area. Demand zone Between local demand zone and strong demand zone is very weak. Anyways if BTC goes bellow 42K,it will follow the blue road.
Local Supply zone is around 55K-58K. If 1D candle gets rejected from this supply zone and closes below the supply zone,BTC will follow the yellow road. Again if it closes above supply zone,it will follow the white road.
I expect BTC to follow the White road. Because there are some strong reason why I'm still bullish. I described the reasons in my previous BTC chart. I will add the link of my previous BTC uodate.
In the end, I just want to say BTC is not bearish. BTC is still bullish. This will be considered as healthy correction until it goes below 42K. And If BTC crosses the present ATH in next 2 weeks,May is going to be superb for BTC.
A LIKE and FOLLOW is always appreciated.
Thank you❤️
Previous BTC update👇👇
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