BITCOIN PUSHING DOWN TOWARDS THE LOWER SUPPORT LEVEL
Welcome to my update on BTC in 4 hours TF. In our previous BTC update, I expected a little bounce and then a rejection but it rather got rejected straight from the $43k support level. The current BTC price isn't looking good. We have resistance at $39.8k to $40k which gives us two scenarios.
Scenario 1: BTC breaks above the resistance level and bounces back to hit the 21 MA resistance level.
Scenario 2: BTC gets rejected from the current resistance level and reaches the bottom support level which is at $35k.
I was expecting a correction in the market for a healthy rally and now looking into the current scenario I am biased towards scenario 2. I may be wrong but I am gonna stick to my biased opinion until and unless BTC breaks above the $40k level.
What's your biased opinion? Do you think the market will fall?
Share your views in the comments.
Do like, and follow for more updates.
Thank you.
Scenario 1: BTC breaks above the resistance level and bounces back to hit the 21 MA resistance level.
Scenario 2: BTC gets rejected from the current resistance level and reaches the bottom support level which is at $35k.
I was expecting a correction in the market for a healthy rally and now looking into the current scenario I am biased towards scenario 2. I may be wrong but I am gonna stick to my biased opinion until and unless BTC breaks above the $40k level.
What's your biased opinion? Do you think the market will fall?
Share your views in the comments.
Do like, and follow for more updates.
Thank you.
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