🚨 Trendline Break or Fakeout? Bitcoin at Critical Level: Zone 82K: A Real Test for Bitcoin 🚨
If you look at Bitcoin on the 8-hour timeframe, you'll see that BTC is trying to break through the trendline but hasn't succeeded yet.
Even if Bitcoin manages to breach the trendline, in my opinion, you might still see wick-type candles, as BTC has already rallied significantly. Right now, there’s no major news hitting the market either.
Whether you're checking the 1-hour, 2-hour, 4-hour, or 8-hour timeframe, you'll notice the same pattern. I also mentioned this in my last post that when BTC is attempting to break its resistance, I stated that even if it breaks, the 82K area could still prove to be very tough for Bitcoin.
So, as you can see in the image below, if BTC gets rejected from this trendline, you might see a pattern similar to what I've drawn.
$BTC
If you look at Bitcoin on the 8-hour timeframe, you'll see that BTC is trying to break through the trendline but hasn't succeeded yet.
Even if Bitcoin manages to breach the trendline, in my opinion, you might still see wick-type candles, as BTC has already rallied significantly. Right now, there’s no major news hitting the market either.
Whether you're checking the 1-hour, 2-hour, 4-hour, or 8-hour timeframe, you'll notice the same pattern. I also mentioned this in my last post that when BTC is attempting to break its resistance, I stated that even if it breaks, the 82K area could still prove to be very tough for Bitcoin.
So, as you can see in the image below, if BTC gets rejected from this trendline, you might see a pattern similar to what I've drawn.
$BTC
