Hello Dear Traders,
Last day many things happened in crypto market due to which we seen sell off in BTC. Two main things triggered this sell off, First Elon musk U Turn on bitcoin, Second Binance investigation News. This 2 news created FUD in the market & we seen panic sell off in btc as well as in alts.
yesterday BTC tested last monthly candle LOW which was 46930$. on lower time frame btc is trading above monthly low bt we are not seeing significant bullish pressure here. as we know last monthly closing was bearish after 6 months of parabolic bull run, this is also impacting on current month.
if BTC starts trading below last monthly low then, we can easily see btc trading at 40-42k area in coming weeks.
If Btc wants to continue Bull run then in any condition BTC must stay above 46930$ area.
Last day many things happened in crypto market due to which we seen sell off in BTC. Two main things triggered this sell off, First Elon musk U Turn on bitcoin, Second Binance investigation News. This 2 news created FUD in the market & we seen panic sell off in btc as well as in alts.
yesterday BTC tested last monthly candle LOW which was 46930$. on lower time frame btc is trading above monthly low bt we are not seeing significant bullish pressure here. as we know last monthly closing was bearish after 6 months of parabolic bull run, this is also impacting on current month.
if BTC starts trading below last monthly low then, we can easily see btc trading at 40-42k area in coming weeks.
If Btc wants to continue Bull run then in any condition BTC must stay above 46930$ area.
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