Bitcoin current situation is promising, the fact that bitcoin price dropped to 30k area and found a good support is showing the market is not just yet to dip. personally I believe we are going for a 50k area if
1. Market continues the bullish runs by maintaining HLs at 4H.
2. We don't see any sudden news or a breakout of our trendline and support zone at 30k.
Current analysis:
4H we had strong bullish engulfing at 30k after 3 consecutive massive bearish candles on 11th JAN. market rejected once more with a bullish engulfing to indicate another confirmation that buyers are still in the market.
for confirming our bullish run, seeing 1H, breaking out of the triangle to the upside could bring more buyers to the market.
But market is quite volatile and Will update more on any changes.
Don't forget to follow us for more setups and ideas.
1. Market continues the bullish runs by maintaining HLs at 4H.
2. We don't see any sudden news or a breakout of our trendline and support zone at 30k.
Current analysis:
4H we had strong bullish engulfing at 30k after 3 consecutive massive bearish candles on 11th JAN. market rejected once more with a bullish engulfing to indicate another confirmation that buyers are still in the market.
for confirming our bullish run, seeing 1H, breaking out of the triangle to the upside could bring more buyers to the market.
But market is quite volatile and Will update more on any changes.
Don't forget to follow us for more setups and ideas.