BTC: IS AT RESISTANCE! NEXT POSSIBLE MOVE FROM HERE....

2023年5月28日

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Welcome to this quick BTC update. Currently, it is trading around the $27.2k level.

BTC is forming a falling wedge like structure in 2hr time frame. And currently, it is facing strong resistance here. The resistance zone is at $27.2k-$27.5k
For any bullish movement, we need to break and close above this resistance level else we might see a dump again and the price might retrace back to the $26k level.
So as of now, it looks bearish to me in the short term.

Invalidation Level:- A bearish scenario will invalidate if we close above the $27.5k level

What do you think about this?
Share your views in the comment section.

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2023年5月29日

註釋

BTC formed a falling wedge-like structure in a 12hr time frame and is currently rejected from the upper trendline of the wedge. $27.5k resistance becomes support after breaking out. Now, it needs to hold and retest this support for a bullish move.
Let's see how the price reacts around $27.5k support. If holds and bounces then it might break this wedge which is a very bullish scenario for us.