BTC UPDATES📣📢📣📣
So upon looking at the BTC chat today, I realized that BTC has been consolidating recently and this consolidating is at the trend line drawn ✍️ showing a sign of rejections to the upside..
There’s a strong Trendline that I don’t think BTC will be able to break it cuz it’s very strong 💪.
To all those who are to invest in BTC should either be patient or take the risk to invest.
That trend line has been respected various time and I think this isn’t the time it will break due to that bull run 🏃♀️ and I have a feelings that, BTC will start retracing from now to make the correction before the impulsive up move.
To my best analysis I’m seeing BTC to retrace back to $40,000. Due to the technical analysis BTC is going to start the retracement since it hasn’t been Able to break the trend line but rather showing some signs of rejections tells us that it won’t be able to break the trend line. To see what I’m saying go to yearly timeframe and then you draw a bearish trend line and after doing this you will realize it’s a very strong trend line that has been respected from the previous years and I don’t think price will be able to break that trend line now.
So with all this rejections I stand on that “ BTC IS GOING TO RETRACE BACK TO $40,000”.
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