Why BTCUSD we hit 46-47k key supply areas before retracing

31 Des 2023

Hello guys! In this session of my weekly analysis i will explain why #btc might hit 47k before Retracement. If you have been following my analysis I call for Bitcoin Bull run in February 2023 after it formed a reversal pattern inverse head and shoulder pattern with double bottom pattern. BTCUSD i have been bullish every since then but will are going to see retracement at key supply level of 46-47k in the coming year 2024 back in 30-31k areas. But if u look closely we can see a consolidation(continuation pattern) been form closed to the key levels, we could see a break out of this consolidation couple with the fact that Jamie Dimon becoming an authorized participant in BlackRock's #BTC ETF, BTC might hit 46k plus.

Note: Remember this is not a financial advice guy’s do your research before investing!