BITCOIN: SWINGING BETWEEN THE SUPPORT AND RESISTANCE.
Updated
Welcome dear members to this important update on BTC in 4 hours timeframe.
It has been more than 48 hours that BTC is trying to break above the 44k to 45k resistance level. It is important for BTC to break this resistance level. So far BTC has well maintained both the support and resistance level and it is quite fascinating to see how the 21 MA is beautifully acting as a strong support line for BTC.
Here are two scenarios I can see in this chart:
Scenario 1: If BTC fails to hold the 21 MA support, then
41K to 
42K will hold first support and then bounce back or else 
39K to 40k to be the next support level.
Scenario 2: If BTC bounces back from the 21 MA support then 45k to
46K will be a strong resistance level and once it breaks through these resistance levels then BTC will target to reach the 50k level.
The way BTC is holding the 21 MA support, it looks pretty strong and BTC must continue to hold it. Keep an eye on the current support and resistance level. I will update you more on it. If you ask for my biased then I am neutral at the moment.
Share your views about BTC in the comment box. I will be happy to read them.
Also, like and follow for more interesting updates.
Thank you.
It has been more than 48 hours that BTC is trying to break above the 44k to 45k resistance level. It is important for BTC to break this resistance level. So far BTC has well maintained both the support and resistance level and it is quite fascinating to see how the 21 MA is beautifully acting as a strong support line for BTC.
Here are two scenarios I can see in this chart:
Scenario 1: If BTC fails to hold the 21 MA support, then
41K to 42K will hold first support and then bounce back or else 39K to 40k to be the next support level.Scenario 2: If BTC bounces back from the 21 MA support then 45k to
46K will be a strong resistance level and once it breaks through these resistance levels then BTC will target to reach the 50k level.The way BTC is holding the 21 MA support, it looks pretty strong and BTC must continue to hold it. Keep an eye on the current support and resistance level. I will update you more on it. If you ask for my biased then I am neutral at the moment.
Share your views about BTC in the comment box. I will be happy to read them.
Also, like and follow for more interesting updates.
Thank you.
Note
BTC update:Scenario 1 is on the play.
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