#-The Analysis is based on personal Knowledge of technical analysis , Please Do Not Take It as a Financial Advice, And Always Do Your Own Research.
## Technical analysis:
. BTCUSDT was Moving in a Triangular channel then IT had a breakout.
. After Breakout It started Following parallel Channel.
. The price is now Below 50 EMA and 20 EMA.( BEARISH SIGN )
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according to rsi we can see a divergence and a double top with nice volume and short term trend line is also broken, so i guess it can go down to ema 200 or even more further!
Next target and resistance zone FIB (3.619) zone, Anyway we are hard on support and need not worry of going down because volumes looks in favor of bull runnnnnnnnnnnnnnnnnnnn.
DYOR.
$BTC yesterday took a dip and still isnt able to recover from it and in 4 hr tm a shooting star candle has been formed which indicates further more dip.
BTC testing support of previous ATH, Seems like rejected and you can see fibbonaci acting as support too, Let us expect to see Daily Candle closing above previous ATH, So that we don't consider it as a fakeout.
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BTC has given breakout of symmetric triangle, Now leading towards our well defined targets mentioned in previous idea post
Targets 71000$
Targets 75000$
Targets 79000$
BTCUSDTPERP shows the pending correction as done and it can be gearing up for a rally till 70k now, risk-takers can buy at 23% rejection where a bullish candle forms with good volumes with 38% levels as stop loss and 70k as target ensuring a 1:2 RR.
BTC still looking bullish, we may soon see BTC at previous high of $67,000. If we go with the Stock to Flow model, we should not be surprised even if BTC closes near to $90,000.
