BTC/USDT (Saved by 3D 50MA Support?)

💎Technical Analysis Summary💎



BTC/USDT

-My last BTC update was still trading in a small range around 55k-58k dollars
-The bitcoin bears won the game after breaking its local support at 53k dollars
-The price touches the 3D 50 moving average and the price reacted with a strong push-up
-I think the bitcoin bulls defended this important moving average like history on September 2020
-We may see a temporary bounce to retest the downward resistance at 55k dollars
-If the bulls can clear the resistance above, the chances to continue the trend higher increases
-But if another rejection will happen, a major support retest is likely to happen again
-And if that bearish scenario plays out, the bulls will be in trouble in the coming weeks
-I'm expecting a sideways action inside this triangle pattern until June
-This would be a good chance for the Altcoin to bounce up if they are holding at key support
-Please exercise proper risk management because the game is starting to look difficult



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