My $40k Target was HIT. Next possible Move!!

11 Jan 2021

Bitcoin hit the 40k mark printing a high of $42,000.
I would like to thank all the followers who texted me on New year. Also thanks for the appreciation on accuracy of my BTC charts.
Let's discuss the current Chart.
BTC broke below the 50D MA which is bearish.
Unless BTC regains a candle close above 50D MA
and the purple Channel trendline BTC is bearish.
It could easily plummet to 32k 29k and 27k.
The 0.382 fib level is at $32,666 BTC must bounce from this level. If it fails BTC could fall further, what goes up straight comes down the same way.
But looking at the long term charts It simply looks like a small healthy retracement that BTC needs since a very long time.

Conclusion : BTC usually bounces when others don't expect. It has been trading W pattern since a very long time where we see long wicks showing the bulls acting pretty strong under those areas.
I am sitting idle looking at Altcoins opportunities.
When the market is in doubt do not trade.The current market is actually pointing at mixed signals while we see the chart is purely bearish. During these times I don't trade at all. Crypto is full of opportunities.
We will wait for the right time and it's coming soon, mark my words.

I will soon be posting many Altcoin setups so follow me and stay tuned for every update. Please hit the like button to support my work and share your views in the comment section.

Thanks for reading

Stay safe

#PEACE