MU_Traders
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$BTC $70K Is Still Possible || Here Is Why?
🔸 In today's article I am not going to discuss tariffs but we will discuss on the basis of VSA methodology & technicals.
🔸 Look at above given chart market created a buying climax indicated in with help of two horizontal green color lines.
🔸 Most of the time it represents a bearish move. Some more things confirm it like weakness and up thrust.
🔸 In green ellipse weakness in price marked with increasing volume.
🔸 Also Up thrust with ultra high volume has marked that is clearly showing s.l hunting before down side leg.
🔸 From the above three concepts we can clearly say BTC's next move is downside.
🔸 So in short words according to VSA we can see #BTC below 80K in upcoming days, probably $70K.
🔸 If we look technically on #bitcoin 1H TF it is showing range as shown in above given chart.
🔸 When the market is in range best practice is to buy when it comes to support and book profits when it reaches resistance with tight s.l below the support zone.
🔸 But keep at least 95%-97% in stable coins as the bigger TF trend is still bearish.
🔸 But the main question is where to buy even if BTC starts dropping toward $70K. Here is answer:
🔸 Look at the above given chart showing so far two rallies after creating bottom in 2022. If we combine these two rallies lows we get a point around $69K that can prove a reversal point this time too.
🔸 Also there is horizontal support so maximum chance we get reversal from there.
🔸 But personally I will prefer to buy after some confirmations around $70K.
🔸 If I tell you my personal portfolio condition, so far 100% in stable coins and waiting for a crash to buy around $70K.
🔸 This analysis will be invalidated once 3 consecutive 1D close above $88K.
🔸 If you find this article helpful then do not forget to like, comment, share and repost.
#BTCRebound
🔸 Look at above given chart market created a buying climax indicated in with help of two horizontal green color lines.
🔸 Most of the time it represents a bearish move. Some more things confirm it like weakness and up thrust.
🔸 In green ellipse weakness in price marked with increasing volume.
🔸 Also Up thrust with ultra high volume has marked that is clearly showing s.l hunting before down side leg.
🔸 From the above three concepts we can clearly say BTC's next move is downside.
🔸 So in short words according to VSA we can see #BTC below 80K in upcoming days, probably $70K.
🔸 If we look technically on #bitcoin 1H TF it is showing range as shown in above given chart.
🔸 When the market is in range best practice is to buy when it comes to support and book profits when it reaches resistance with tight s.l below the support zone.
🔸 But keep at least 95%-97% in stable coins as the bigger TF trend is still bearish.
🔸 But the main question is where to buy even if BTC starts dropping toward $70K. Here is answer:
🔸 Look at the above given chart showing so far two rallies after creating bottom in 2022. If we combine these two rallies lows we get a point around $69K that can prove a reversal point this time too.
🔸 Also there is horizontal support so maximum chance we get reversal from there.
🔸 But personally I will prefer to buy after some confirmations around $70K.
🔸 If I tell you my personal portfolio condition, so far 100% in stable coins and waiting for a crash to buy around $70K.
🔸 This analysis will be invalidated once 3 consecutive 1D close above $88K.
🔸 If you find this article helpful then do not forget to like, comment, share and repost.
#BTCRebound
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.