Welcome to this weekly update, guys. Let me keep things simple and easy to understand.
Ever since BTC reach the 2nd high price ($69k) after ($64.8k) making a double top, BTC has fallen -48% and still counting.
In my previous weekly update, I showed the wider chart and analyzed the major support levels and how the BTC will move. So far it is following the path.
In this weekly chart, let us zoom in and see what we get. We have 3 major close support. Support 1 at $34500, Support 2 at $31700, and Support 3 at $29000. All these three support are important for BTC and among these three $29k is the most important one. If BTC breaks $29k (the last support) then we will officially enter the bear market.
So, consider $29k to be the Iron-man (the last hope). We still have a chance to bounce back from any of these levels or even from the current $35k to $36k level.
Let's hope BTC won't break below these supports.
Trade safe.
Ever since BTC reach the 2nd high price ($69k) after ($64.8k) making a double top, BTC has fallen -48% and still counting.
In my previous weekly update, I showed the wider chart and analyzed the major support levels and how the BTC will move. So far it is following the path.
In this weekly chart, let us zoom in and see what we get. We have 3 major close support. Support 1 at $34500, Support 2 at $31700, and Support 3 at $29000. All these three support are important for BTC and among these three $29k is the most important one. If BTC breaks $29k (the last support) then we will officially enter the bear market.
So, consider $29k to be the Iron-man (the last hope). We still have a chance to bounce back from any of these levels or even from the current $35k to $36k level.
Let's hope BTC won't break below these supports.
Trade safe.
