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Welcome to this quick BTC update. BTC is dumping badly after breaking down from the $23k level. Now, what's next?
According to the chart, BTC is forming an expanding wedge-like structure in 4hr time frame which is generally a bullish pattern. Currently, it is touching the lower trendline of this wedge and bouncing. If BTC stays here for a while then definitely we can expect some relief bounce from here.
Invalidation:- If the candle closes below this wedge then expect more dump.
What do you think?
Do you also expect some relief bounce from here or do you expect more dump?
Share your views in the comment section.
If you like this idea then do support it with like and follow.
Thank you!
Welcome to this quick BTC update. BTC is dumping badly after breaking down from the $23k level. Now, what's next?
According to the chart, BTC is forming an expanding wedge-like structure in 4hr time frame which is generally a bullish pattern. Currently, it is touching the lower trendline of this wedge and bouncing. If BTC stays here for a while then definitely we can expect some relief bounce from here.
Invalidation:- If the candle closes below this wedge then expect more dump.
What do you think?
Do you also expect some relief bounce from here or do you expect more dump?
Share your views in the comment section.
If you like this idea then do support it with like and follow.
Thank you!
