BTC UPDATE! BULLISH MODE ON?

5 thg 2, 2022

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Welcome to this BTC/USDT update. MY previous chart of BTC in which I mentioned a bearish flag scenario got invalidated. No one expected this kind of pump (5k) in just a few hours. If someone says they do, either they should be a whale with at least 10k BTC or they are bullshitting you. I have no shame for accepting my mistake.

BTC always surprises everyone. That's why we have definitely used stop losses. Stop losses save you from big losses when the market pump and dump like this.

Now, let's get to the chart. BTC successfully breaks out from the falling wedge and also this is 90 days old resistance. This is really good for BTC. Now, I'm expecting a retest to 40k level then next to our next resistance which is at around $44,500

Even after that pump, BTC still has a lot of work to do before we can call this an uptrend on the daily chart. BTC must remain above 39K-40k for the bulls to stay in control. If in any case BTC again goes below 40k then this whole breakout will be turned into a fakeout.

Also, the weekly close is near. More pictures will clear after the weekly close.

As of now, I recommend you to use strict SL on all your trades and don't do FOMO buying now.

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