#BTCUSDT bounced but Will this pump sustain??

24 Jan 2022

Welcome to this quick update, everyone.
Since my last Bitcoin chart got invalidated after the break below 38k I've come up with this idea.
I'll share what I see in the charts. I don't know if it's right.
Am just sharing the possibilities.

Few Key points to keep in mind:-
RSI is oversold
Too much fear in the market
Many coins are showing signs of strength with bullish divergences in lower time frames
Well, it can trigger you to buy BTC or any other alt at CMP.

Well, IMHO BTC needs to get above the $38-39k level again to be bullish again.
With almost 52%+ retracements from the 68k zone, BTC bounced already.
Will this sustain? The chart is showing a falling wedge channel. All we need is a reversal and a breakout and reclaim the 38k level to be bullish again.
Based on my analysis I've already shown the possible scenarios in the chart.
Break below 28k will invalidate the chart.

Besides, while everyone is calling for a Bear Market and 10k charts are back again, we can expect the unexpected from BTC.

My suggestion would be to wait for the confirmations:-

1. Rejection in USDT Dominance
2. BTC to break above 38k first.

What do you think?
Do you agree with me?

Do hit the like button and share your views in the comments section.

Thank you