Hello All !!

Welcome to the quick update of BTCUSDT . BTC was moving in the range of 39300 to 40800 for a long time. BTC broke 39300 and tested 38200 and again pumped back to 40800 without any obstruction. It was unable to break the 40800 resistance and was rejected again taking the price all the way back to a new low of 37700.

After taking support from 37700, it again bounced back until 40700 and is currently getting rejected. In the daily timeframe , BTC is making a bear flag and may be retesting i fear.

The various scenarios as expected are given in the chart for both bearish and bullish patterns.

Scenario 1: Retest to 40800 and dump again until 37000.
Scenario 2: Enter the channel again, break 40800 resistance, and all the way up until 43000 then 48000.

Please study the chart, take care of your positions and wait for confirm breakout or breakdown of the pattern. Be safe with your positions and save your capital for the longer term.

This is not financial advice, please do your own research before investing and we are not responsible for any of your losses or profits.

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