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The recent dip was bought up strongly and very quickly. Few hours before BTC drops to $47k and now it's trading above $49k. It shows lots of buyers waiting for the dip.
Now let's get to the chart. BTC is currently trading in a very strong resistance zone which is $48,300-$49,500. If BTC is able to break and hold above this resistance then my next short-term target is $53k. If BTC failed to break this resistance then it may come down to the $48k or even $45k and from there it starts a new ride.
But remember don't forget to book your profits. We are still not fully bullish until BTC breaks and close above $53k in the daily and weekly timeframe. Till then all these moves can be a fakeout. So play safe.
If you like this idea then hit the like button and also share your views in the comments section.
This isn't financial advice. DYOR before investing.
Thank you!
The recent dip was bought up strongly and very quickly. Few hours before BTC drops to $47k and now it's trading above $49k. It shows lots of buyers waiting for the dip.
Now let's get to the chart. BTC is currently trading in a very strong resistance zone which is $48,300-$49,500. If BTC is able to break and hold above this resistance then my next short-term target is $53k. If BTC failed to break this resistance then it may come down to the $48k or even $45k and from there it starts a new ride.
But remember don't forget to book your profits. We are still not fully bullish until BTC breaks and close above $53k in the daily and weekly timeframe. Till then all these moves can be a fakeout. So play safe.
If you like this idea then hit the like button and also share your views in the comments section.
This isn't financial advice. DYOR before investing.
Thank you!
