BTC/USDT CRITICAL MOMENT FOR BITCOIN⚠️
2 different pictures, 2 different timeframes:
On daily chart, BTC broke a huge trendline and the price is retesting it, if the retest is succesfull we could see BTC continuing upward momentum. It could always be a bulltrap and we have to be carefull at this time. Volume at highest price is still low and that is a good sign but we can´t rely only on that. Only time will tell. Fear and Greed index is showing that market is being greedy and that is a sign of a possible pullback.
However on 1H chart we can see Bitcoin broke down a local key level (51K approx), we could expect a retest of this level and a continuation torwards next local support around 47K. If that is the case I will be looking at buying altcoins after watching how Bitcoin reacts to the support as we could be seeing nice pullback on alts.
What is your view?
Trade safely!
On daily chart, BTC broke a huge trendline and the price is retesting it, if the retest is succesfull we could see BTC continuing upward momentum. It could always be a bulltrap and we have to be carefull at this time. Volume at highest price is still low and that is a good sign but we can´t rely only on that. Only time will tell. Fear and Greed index is showing that market is being greedy and that is a sign of a possible pullback.
However on 1H chart we can see Bitcoin broke down a local key level (51K approx), we could expect a retest of this level and a continuation torwards next local support around 47K. If that is the case I will be looking at buying altcoins after watching how Bitcoin reacts to the support as we could be seeing nice pullback on alts.
What is your view?
Trade safely!
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