In Weekly TF Chart, Bitcoin Bulls Still Defending the WMA50.
Technical analysis:
Bitcoin held the 34700 support as said in my last updates. This level needs to hold. Currently apart from every possible way BTC entered back into the channel. A very clear sign of manipulation. BTC if fails to hold the 34.7k level by the weekly close be ready for 28k. Even I got into this trap. Bought back BTC around 36.5k. Bought some more here to DCA. IMHO it’s better to wait for the daily close. TBH this is bad for BTC. Though this ranging between 30k and 40k could be a sign of more accumulation by the institutions I think the Bull Market is not over yet. All of these patterns getting invalidated every week is to kick out the weak hands. Don’t be one. Think long term. Just a year back we were ranging from 3k to 4K see the difference now? It’s already 10x! Think about what’s coming in the years to come! There’s nothing to panic here, spend some time with your families.
Summary :
In Weekly TF Chart, Bitcoin Bulls Still Defending the WMA50 (29950)📈
If Weekly Candle Closed Below the EMA50, Next Stop would be 24k & If Bitcoin Remains Above it, Bitcoin Might Bounce Back towards 48k Horizontal Resistance as well as 21 WMA.
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#bitcoin #crypto #nextmove #bullmarket #sideways #btcusdt #weeklyclose
Bitcoin held the 34700 support as said in my last updates. This level needs to hold. Currently apart from every possible way BTC entered back into the channel. A very clear sign of manipulation. BTC if fails to hold the 34.7k level by the weekly close be ready for 28k. Even I got into this trap. Bought back BTC around 36.5k. Bought some more here to DCA. IMHO it’s better to wait for the daily close. TBH this is bad for BTC. Though this ranging between 30k and 40k could be a sign of more accumulation by the institutions I think the Bull Market is not over yet. All of these patterns getting invalidated every week is to kick out the weak hands. Don’t be one. Think long term. Just a year back we were ranging from 3k to 4K see the difference now? It’s already 10x! Think about what’s coming in the years to come! There’s nothing to panic here, spend some time with your families.
Summary :
In Weekly TF Chart, Bitcoin Bulls Still Defending the WMA50 (29950)📈
If Weekly Candle Closed Below the EMA50, Next Stop would be 24k & If Bitcoin Remains Above it, Bitcoin Might Bounce Back towards 48k Horizontal Resistance as well as 21 WMA.
❤️ If you find this helpful and want more FREE forecasts in Tradingview.
. . . . . Please show your support back,
. . . . . . . . Hit the 👍 LIKE button,
. . . . . . . . . . Drop some feedback below in the comment!
❤️ Your Support is very much 🙏 appreciated!❤️
💎 Want me to help you become a better Crypto trader?
Now, It's your turn!
Be sure to leave a comment; let me know how you see this opportunity and forecast.
Trade well, ❤️
#bitcoin #crypto #nextmove #bullmarket #sideways #btcusdt #weeklyclose
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