In our last $BTC update, we forecasted a target of $69,400 and $70K. Alhamdulillah, $69,400 was achieved đŻ. Now, letâs dive into the next move for BTC. Instead of a short post, weâve provided a detailed analysis to help you better understand the market. In this article, we'll discuss whether $BTC will head toward $75K or $42K. Letâs start analyzing:
**BTC Bullish Scenario:**
For BTC to stay bullish, it needs to remain above $66,700. If just one 4-hour candle closes below this level, BTC could drop to the $65K region. However, as shown in the image below, if BTC holds the $67K area, we could see it push toward $70K and $72K this week.
**BTC Bearish Scenario:**
As mentioned, if a 4-hour close happens below $66,700, weâll likely see BTC in the $65,200 zone soon. If a bullish pattern or strong buying pressure appears here, weâll enter the market and await a pump. If no bullish pattern forms, weâll look to buy around the $63K region as indicated in the figure.
**1D Time Frame BTC Analysis:**
On the 1-day time frame, price action is clearer and can help determine BTCâs next direction. As shown in the image below, if BTC closes below the Yellow Box, we could see it drop to $62,500. However, if it closes above the Yellow Box, it could signal a healthy correction, and #Bitcoinâ could pump up to $73K.
**Our Personal Next Action:**
Personally, as seen in the image, we sold 100% of our holdings around $69K. Now, weâre looking to buy again, but weâll wait for a clearer market direction. Whether it breaks resistance or shows support at the key levels, weâll enter with partial buys (30%) at each support level. Here are the three buying ranges where weâll make partial buys if BTC shows support, otherwise, weâll wait:
- $66,800
- $65,200
- $62,700
If BTC keeps falling without showing support at any of these levels, weâll fully enter around the $62,700 area and wait for a significant pump.
**In summary**, weâve already sold our position and will wait for a bullish structure on both short and long time frames before buying again.
If you found this article helpful, donât forget to like and follow for more updates.
