king heart(@Square-Creator-93e6f570da46)'s insights

$BTC Alert!! Yesterday I showed $61,980 - $62,380 resistan

king heart · 2024-10-05T17:05:59.000Z

$BTC Alert!! Yesterday I showed $61,980 - $62,380 resistance. This market is consolidate. So yesterday's analysis is still valid. Today I will explain the logic of my analysis. But I am giving a summery of yesterday Frist : * Bitcoin broke out of a falling wedge pattern—a bullish sign. * Watch for confirmation if it crosses the $61,980 - $62,380 resistance. * If the market rejects this resistance, potential downside or consolidation, with $57,844 as a key level What I said on Oct 1, you can take it as its update version. I said, " *A look at the last 14 days chart shows that the market started pushing itself from $57,844, which then crossed $65,120. *According to the bull trend, the market was supposed to cross the $66,820 resistance. But that's not how the market works. *$66,820 resistance is an important level because Bitcoin reached its highest price point 190 days ago. *Since then, it has been breaking support levels while struggling to break resistance levels, indicating a weakening market. *It will be the end of the trend when the market hits the $66,820 resistance. *Then breaking $66,820 could lead to the next support level and potentially the reversal point. *The market may reverse at the last high of $73,710, but this is unlikely. Technical analysis suggests $90,000 as the main reversal point. *However, the market will not cross such an important level at once; instead, it will fake break out once, trap trader's, gain volume, and then cross. *Although the market can fill up the last 14-day gap, the probability is low. The market fills half the gap and will push itself up to the reversal point with volume. " Now,,, The market has filled half of that 14-day gap, and the market is moving higher after showing a falling wedge pattern. Which is very likely to reach the reversal point. But since the market is unpredictable, there is still a possibility that the market will go down to fill the gap of 14 days (today 20 days). That is why we will proceed with the confirmation. I say it again, My yesterday's analysis is still valid.

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king heart

When it’s on that particular range you’ll get confused

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