The expectations are high for BTC and yet this underperformance is killing people's patience. You can say it by viewing all the memes and posts on social media. People are getting restless with this silent move on BTC. They are expecting an explosion but BTC is quiet. This is the basic problem of the herds, they want quick results, and they want everything fast and easy.
Anyways, let's get back to the chart.
Current scenario: BTC is still under the rising wedge pattern and it is close to the support level. Yesterday, we saw BTC getting rejected from the resistance, as shown in the chart and now the price is at the 21 MA support. If we see a bounce and a breakout above the yellow dotted line then we can expect BTC to rally close to $20.5k. If that's not the case then we can expect BTC to drop close to $18.8k. I just hope that this rising wedge won't turn into a falling wedge cause if that happens then it will mess up the entire chart and the market sentiment.
I hope this idea was helpful for you all. Do show your love and support by liking this chart and clicking the follow button. I would love to see you on my team in the upcoming bull run.
Trade safely and happy weekday.
Anyways, let's get back to the chart.
Current scenario: BTC is still under the rising wedge pattern and it is close to the support level. Yesterday, we saw BTC getting rejected from the resistance, as shown in the chart and now the price is at the 21 MA support. If we see a bounce and a breakout above the yellow dotted line then we can expect BTC to rally close to $20.5k. If that's not the case then we can expect BTC to drop close to $18.8k. I just hope that this rising wedge won't turn into a falling wedge cause if that happens then it will mess up the entire chart and the market sentiment.
I hope this idea was helpful for you all. Do show your love and support by liking this chart and clicking the follow button. I would love to see you on my team in the upcoming bull run.
Trade safely and happy weekday.
BTC went as expected. Now, it must hold the support. A breakdown will cause some damage to the market.