BITCOIN AT THE RESISTANCE.
Updated
Welcome members to this update on BTC in 6 hours timeframe.
If you are viewing my post for the first time then do not forget to like and follow. I share updates on the crypto market including margin trading, futures, spot, and scalping. All ideas are my biased opinion and I invest in my own risk. I don't force anyone to buy or sell, I simply share my ideas absolutely for free and it is your sole decision whether to trade on it or use it to understand the market.
If you had followed my previous charts then you will know that I have been telling time and again about BTC hitting close to the 44k resistance level. Here we are, BTC reaching as close as 43.4k and then got rejected but the fight is not over yet. BTC is under a rising wedge pattern and if BTC bounces back from the current level of 42.4k then we can expect BTC to reach the 43.5k level soon.
BTC might be showing some bullish moves but let us not forget that BTC is close to the resistance level which means there is a probability that BTC will get rejected as well.
Here are the possible levels we can keep an eye on.
1. 41.8k level: If BTC breaks down below this level then there are higher chances that BTC will get rejected.
2. 42.4k level: This level right here has been an important resistance zone for BTC and the current price is once again facing this resistance level.
3. 43.5k level: There is a good chance that BTC will try to break through this resistance once again. If BTC manages to get through this then things will look way too interesting.
So, I am keeping my eyes on these levels.
Let me know what you think about this idea and if you like it then do like and share.
Trade safely.
If you are viewing my post for the first time then do not forget to like and follow. I share updates on the crypto market including margin trading, futures, spot, and scalping. All ideas are my biased opinion and I invest in my own risk. I don't force anyone to buy or sell, I simply share my ideas absolutely for free and it is your sole decision whether to trade on it or use it to understand the market.
If you had followed my previous charts then you will know that I have been telling time and again about BTC hitting close to the 44k resistance level. Here we are, BTC reaching as close as 43.4k and then got rejected but the fight is not over yet. BTC is under a rising wedge pattern and if BTC bounces back from the current level of 42.4k then we can expect BTC to reach the 43.5k level soon.
BTC might be showing some bullish moves but let us not forget that BTC is close to the resistance level which means there is a probability that BTC will get rejected as well.
Here are the possible levels we can keep an eye on.
1. 41.8k level: If BTC breaks down below this level then there are higher chances that BTC will get rejected.
2. 42.4k level: This level right here has been an important resistance zone for BTC and the current price is once again facing this resistance level.
3. 43.5k level: There is a good chance that BTC will try to break through this resistance once again. If BTC manages to get through this then things will look way too interesting.
So, I am keeping my eyes on these levels.
Let me know what you think about this idea and if you like it then do like and share.
Trade safely.
Note
BTC bounced back as expected. Testing the resistance once again.
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