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BTCUSDT Analysis (Price Target 56K)

Bitcoin is forming a rising wedge (also known as a rising wedge) formation on the four-hour chart.

This formation is interpreted as a downward trend in prices. If this formation occurs in an upward trend, it indicates that the trend will change. The price target of this formation is at $ 56,000.

If the $68,000 level is broken, there is a high probability that this formation will work.

I expect a final correction to the 56K level before halving and mega bull. Additionally, I think this will be the last opportunity to make purchases. (LAST OPPORTUNITY TO JUMP ON THE TRAIN)

If such a correction of at least 20% comes, we can potentially see sharp declines of 30%-50% at the bottom. Therefore, I recommend that you stay away from leverage and reduce your risk in this process. Because this correction also means serious liquidation, that is, gathering fuel for market makers to blow up the market. That's why there may even be potatoes in bloom with 2 levers underneath. Be careful.

This does not mean that we should sell all the goods we have, never! You can only sell some of your goods for a profit, but you will do this to provide liquidity for yourself in order to collect goods again in the correction. If you sell all the goods, if the correction does not come, we will be left waiting.

I am a humble analyst and I read to you what I see on the chart, that is, I interpret the data at hand. This formation is a strong formation, but it is not likely to make a definitive correction.

I will keep my guard up based on this analysis in the coming days. I hope I can make it available to you and if I don't mind sharing it, I will share my altcoin portfolio, that is, my basket. That's why you can now arrange your cash and turn on notifications for my accounts. We won't have much time.

IMPORTANT WARNINGS:

1-) Do not open a short transaction in a rising trend, no matter what.

2-) Do not sell all your goods, do not buy with all your cash.

3-) If there is a correction, collect solid projects from the bottom, you do not need to wait for me to share my cart.

4-) Do your own research, do not trust me or my derivatives.

5-) Do not stay out of the game to avoid taking risks. Remember, the biggest risk in this era is not taking risks. Just stay away from uncontrolled risk.

I have a sample $1000 cart plan. There may be up to 50 altcoins on my radar within this. Diversifying the basket is extremely important to ensure maximum return.

Finally, we are setting our alarms on#Bitcoinat the critical level of $68,000. If there is an upward break, this formation will be disrupted and our scenario will be cancelled.

It is not investment advice, it is my own thoughts.

Follow me so you don't miss any profitable information! @İbrahim COŞAR (BİTCOŞAR)

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