Hi friends, hope you are well and welcome to the new update on Bitcoin ( BTC ).

Broke out a wedge:

On a 4-hr time frame, Bitcoin has broken out a falling wedge , and the target for this wedge can be $44K.

Tested the channel after breakout:

On a daily time frame, Bitcoin broke out a long down channel , and tested the previous resistance as support well. Now BTC needs to breakout $40K for any big move, because, here we also have EMA 21 daily resistance as well. This $40K level has been working as support and resistance in the previous history very well.

Strong support zone:
On weekly time frame a very strong supprot zone can be seen, that is from $35K to $28.6K. Whenever priceline is entering here it is starting big bullish reversal moves. There is also 100 weekly simple moving average support.

Big bullish Cypher pattern:
On a same weekly time frame, Bitcoin has also formed a big bullish reversal harmonic Cypher pattern .

Conclusion:
$35K to $28.6K is a big long-term support zone , therefore, a big reversal move is expected to start from this support area . Huge buying has already been witnessed several times in this zone.

Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don’t get stuck with trade