ပို့စ်
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Ben Walther
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Bitcoin — Levels to Watch 🚨
Had so many requests about Bitcoin. That's why I wanted to share the thoughts I already discussed in today's live feed earlier in the morning.
From my POV, Bitcoin's setup is pretty obvious: $BTC traded in a bull flag and broke out ~1 month ago. However, up to now outbreak did lead to a pump. Conversely, BTC has started to trade in a downtrend. Nevertheless, it has respected the upper boundary of the bull flag up to now.
If Bitcoin continues on this path, it will reach the major support area of ~62k in a few days.
And that's when it gets interesting: Either both support lines hold, and BTC starts a fresh pump — or it is about to get hairy.
Here's why: If BTC breaks below the support at 62k, there's actually no additional support above 52k. Therefore, we might see a decline to the lower 50,000 levels.
Had so many requests about Bitcoin. That's why I wanted to share the thoughts I already discussed in today's live feed earlier in the morning.
From my POV, Bitcoin's setup is pretty obvious: $BTC traded in a bull flag and broke out ~1 month ago. However, up to now outbreak did lead to a pump. Conversely, BTC has started to trade in a downtrend. Nevertheless, it has respected the upper boundary of the bull flag up to now.
If Bitcoin continues on this path, it will reach the major support area of ~62k in a few days.
And that's when it gets interesting: Either both support lines hold, and BTC starts a fresh pump — or it is about to get hairy.
Here's why: If BTC breaks below the support at 62k, there's actually no additional support above 52k. Therefore, we might see a decline to the lower 50,000 levels.
ရှင်းလင်းချက်- ပြင်ပအဖွဲ့အစည်း၏ ထင်မြင်ယူဆချက်များ ပါဝင်ပါသည်။ အကြံပြုချက်မဟုတ်ပါ။ Binance Ai ကို အာမခံချက်မရှိဘဲ အသုံးပြုနိုင်ပါသည်။ See T&Cs.