#Write2Earn $BTC
BTC IS BACK TO 50k. IS IT DUMPING?
MARKET UPDATE
Right now BTC is consolidating within the 50K-52K price zone. Why is this happening? Is BTC dumping?
TO ANSWER THESE QUESTIONS LET'S TAKE A LOOK AT THE CHART.
In the 1H chart a bullish inverse head and shoulders has long been formed. If this pattern plays out upside target is 56k.
If its bullish, why is the price down? To close the inverse head and shoulders, BTC lift a leg up to the 52.9k zone. Sellers ambushed the market, pushing the price down to form a bearish double top. The double top pattern played out, when price slumps to 50.6k. Price has been recovering after the fall.
In the 1D chart, candles are still moving within a bullish rectangle. It seems that BTC is taking its time. For today, it's still building a significant support within 51k-52k.
Unless the chart says otherwise, I'm still bullish on BTC. HODL.
PLEASE FOLLOW ME. Thanks.
#Write2Earn #TrendingTopic #Marketupdate #TechnicalAnalysis #BTC
BTC IS BACK TO 50k. IS IT DUMPING?
MARKET UPDATE
Right now BTC is consolidating within the 50K-52K price zone. Why is this happening? Is BTC dumping?
TO ANSWER THESE QUESTIONS LET'S TAKE A LOOK AT THE CHART.
In the 1H chart a bullish inverse head and shoulders has long been formed. If this pattern plays out upside target is 56k.
If its bullish, why is the price down? To close the inverse head and shoulders, BTC lift a leg up to the 52.9k zone. Sellers ambushed the market, pushing the price down to form a bearish double top. The double top pattern played out, when price slumps to 50.6k. Price has been recovering after the fall.
In the 1D chart, candles are still moving within a bullish rectangle. It seems that BTC is taking its time. For today, it's still building a significant support within 51k-52k.
Unless the chart says otherwise, I'm still bullish on BTC. HODL.
PLEASE FOLLOW ME. Thanks.
#Write2Earn #TrendingTopic #Marketupdate #TechnicalAnalysis #BTC
