Updated

#BTCUSDT Nasty candle close, What's next?

Welcome to this quick Bitcoin Update.
It was a nasty candle close. The DOJI shows the selling pressure around 45k level. But as per on-chain data the big addresses didn’t sell, Retail did instead the whales bought more.
Bullish indication? I do think so.
This could be a short-term manipulated PA to make people panic. The good thing is we broke out but a green candle along with volume is needed here.
For now, $38.8k to $40k remains untested and seems likely to be retested soon.
I've been saying this, again and again, to be careful going long since $45k.
Let's just wait for the right momentum to enter the market.

What do you think?
Do you think this rally was just a trap?
Or we are about to break all the way to new ATH!

Also, if you like this chart do hit the like button and share your views in the comment section.

Thank you

#PEACE

Note

The good thing is we are still holding the $40- level which also happens to be a bullish indication in the short term. I personally would want to see the price moving as shown in the chart.
Inverse Head and Shoulders formation in the daily chart. Although we know things cannot be that simple. This is a posibility.

Trade active

The hourly chart shows the possibility of some more sideways consolidation to touch the lower 40k level followed by a bounce.

Cryptorphic

Daily Signals:- telegram.me/thecryptorphic

Coincatch:- bit.ly/15000USDTBonus

BLOFIN - bit.ly/Cryptorphic

Binance: bit.ly/cryptorphic1000

ELITES: bit.ly/Join_elite

Also on:

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.