Welcome to my update on BTC in 4 hours TF. In our previous BTC update, I expected a little bounce and then a rejection but it rather got rejected straight from the $43k support level . The current BTC price isn’t looking good. We have resistance at $39.8k to $40k which gives us two scenarios.

Scenario 1: BTC breaks above the resistance level and bounces back to hit the 21 MA resistance level .

Scenario 2: BTC gets rejected from the current resistance level and reaches the bottom support level which is at $35k.

I was expecting a correction in the market for a healthy rally and now looking into the current scenario I am biased towards scenario 2. I may be wrong but I am gonna stick to my biased opinion until and unless BTC breaks above the $40k level.

What’s your biased opinion? Do you think the market will fall?

Share your views in the comments.

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Thank you.