Bitcoin and other crypto currency like VeChain-Vet break their very strong support zone. Trade carefully. Can be a time of accumulation as well as more sharp fall. Keep an eye on the volumes. The BTC breaks support from the 200-EMA also.
BITCOIN still moved same as waves this correction bottom may be near $30k in worst condition before that i ma expecting $37k hold this correction but we are in 4th wave & now final leg up the 5th wave come which lead market to up $250k i am expecting by year end..
Bitcoin's weekly has sustained above 9DMA which confirms a strong bullish momentum continuation ,the historical bull market support 20WMA is around 28k which looks to me highly unlikely to be tested as support in february . Both previous high and 9WMA almost coincide around 41.5k that could be the strong zone of demand.
Bitcoin (BTCUSD) has given a breakout in 2H chart from an ascending triangle pattern. it also seems like a Bullish pennant. First target is likely around 53000 - 54000 level while the second target as per bullish pennant is around 57000.
Stop-loss can be kept around 46000 levels.
Disclaimer: - These views are for educational purpose only and not a recommendation.
Bitcoin is looking good weekly so far... The retrace the past 3 weeks was short-lived and didn't hit EMA10.
We remain bullish as long as prices are trading above EMA10.
In this timeframe, EMA10 for BTCUSD is sitting at 30396.
On this current trend, BTCUSD weekly is aiming at the ATH at $42,000, that is if we continue to see follow up from the buyers.
Above...
