Welcome to this quick update.
#BTC Update: Bitcoin is at critical Resistance now and i think it almost break it but wait for confirmation.
There are two important line which intersect with each other around 11.1k which is the most important level now. Though you can see those yello boxes. BTC really fluctuates alot in this are and breakdown won't be easy IMO.
Any break below the black trendline could take BTC to $10.3k. It won't happen that quick. My 1st target is 13.3k then move to its ATH and will get invalidated only on the break of $8867 which seems highly unlikely.
Do not forget we broke almots 950 days Resistance which is very important as per TA.
So look for the long term rather than the short term. Remember those people who sold BTC around $350 and bought back at $20,000.
If you look at the daily chart for the above scenario we need a weekly close above 10890 because the 50 D MA is at that level Break and close will confirm the upside momentum.
If you like this quick update please give it a thumbs up and do follow me for more future updates.
Stay safe
#BTC Update: Bitcoin is at critical Resistance now and i think it almost break it but wait for confirmation.
There are two important line which intersect with each other around 11.1k which is the most important level now. Though you can see those yello boxes. BTC really fluctuates alot in this are and breakdown won't be easy IMO.
Any break below the black trendline could take BTC to $10.3k. It won't happen that quick. My 1st target is 13.3k then move to its ATH and will get invalidated only on the break of $8867 which seems highly unlikely.
Do not forget we broke almots 950 days Resistance which is very important as per TA.
So look for the long term rather than the short term. Remember those people who sold BTC around $350 and bought back at $20,000.
If you look at the daily chart for the above scenario we need a weekly close above 10890 because the 50 D MA is at that level Break and close will confirm the upside momentum.
If you like this quick update please give it a thumbs up and do follow me for more future updates.
Stay safe
Note
US elections will create more volatility.Overall trend is bullish for BTC.
Alts - I saw many of people saying that alts season have started but nope it's not . So just we shouldn't get happy for just small green candles on Alts. Real alts season will begin soon but not sooner. You have to keep patience till weak hands capitulate the alts totally. You will get alts in cheaper price than expected which means more profit.
I will give you an idea - We will buy the alts which will play very important role in technology upcoming months with real case of use.
Now let's see the BTC -
BTC overpassed the peak of last 16 months and made high of 14100$ but the most important thing is even the 4H candle failed to close above our resistance of $13860-13950 (If you check 4H charts , candle got closed at 13940$ which is In resistance zone) . Also even 2H candle failed to close above our resistance.
On smaller timeframe , BTC had almost broken the resistance in many of yours opinion but at this price of BTC , bigger timeframe are better to follow.
Now , BTC tried to broke the 14k resistance in 2nd attempt but got failed.
So 2 perfect retests have been done of this resistance on 4H timeframe. If we consider the smaller timeframe then there have been 3 retests as smaller timeframe has hidden support at 13615$.
Now , the Fundamental will play good role , if fundamental goes positive then BTC can break this resistance in it's 3rd retest. Else in Best scenario (Technically), it will take another 2 attempts.
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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.