๐ด What is the next target of Bitcoin? When is Altseason coming? What we are all waiting for. Today I gave a small analysis according to the market condition. But of course don't assume that anyone's analysis will be 100% correct. And this analysis is for spot traders.
First let's get to Bitcoin. BTC makes big move with hammer candle at 41K. Especially breaking the weekly resistance of 44k. That was a bullish scenario of the market. Now notice one thing, many people are thinking a bit smart here that there are huge long positions open in the market now. No more pumping is possible now. But we saw the same scenario in the 25-30k range of Bitcoin. Bitcoin has built a long term range. Range breakout then a good pump. But in the middle you will see that long wick is formed in the candle. And those were to liquidate futures traders who took huge leverage. Because the lifetime will not be up because of the pressure of Bitcoin's long. Many people were still longing for Bitcoin. But those who took entry on the spot made good profit at the end of the day. So now don't worry that long will come down. Rather, he thinks that maybe there is going to be a small correction in the market which will be to liquidate the futures.
What is the next target of Bitcoin now? Bitcoin is already in good shape. Traders make this mistake a lot. When Bitcoin is down they think of more dumps. And when Bitcoin pumps well they ask will BTC pump more? See I am not giving any suggestion to future traders. But let's say for spot traders, Bitcoin will soon pump more.
Because, important range of 44k gave breakout. But I noticed another bullish scenario, bitcoin
If the last bull market breaks out the 2 resistances in the weekly, then 60-62k is almost certain. One resistance is at 52k and another at $50700-51000.
Resistance breakout at Etlist 51k I expect more bullish scenario.
3 days left for weekly close.
