Bitcoin Quick Update Today| #45th Update

Good Morning, traders I trust you've been profitable by staying updated on our previous analyses. you'll know the market conditions and movements.

As I said last BTC #44 update, BTC pump as we expected BTC accurately happened and Hit All our targets, This is what I expected if you look at my previous post you will understand.

Now BTC showing a bearish momentum according to 4h chart & 1h chart.

Bitcoin is currently trading at $51300

I've included charts for 1D, 1W, 1M, and 4H timeframes below for reference.

👉 From my analysis, a correction to around 50300 or even as low as 50000 seems probable in the coming hours. If the support at 50000 holds, we may see another pump with targets at 52000 and potentially $53000.

👉 Failing to maintain the 50000 support could lead to further downside, with targets at 49600, 49500, 49300, and 48500.

👉 Notably, there's a significant amount of liquidation orders at $49975 totaling $103.54M, while the 52725 area holds $106.45M in liquidation orders.

👉 Whales are actively involved in both sides stoploss hunt, so first hunt down side then up side usually, making the 47800 area a key level to watch.

👉 BTC recently broke down of a downtrend line on the 4-hour timeframe. The current trading action suggests a potential dump followed by a retest of the trendline at 49000. A successful retest could propel the price towards 52000 and even $53000.

According to the 4-hourly chart.

4h Chart

📍- Resistance: $52170

🟢- Support: $50368

According to the 1-hourly chart.

1h Chart

📍- Resistance: $51800

🟢- Support: $49000

Considering the retest, there are two scenarios:

1. A successful retest could lead to a rally towards 52000 - 53000.

2. However, if the retest fails, we might see a decline towards 49000 - 46000.

Even if 20,000 people seeing this post, only 1% will follow & like this post because they want to learn for earn. I hope you're one of them. I don't know why 99% are not following me 😃. like this post for more TA.