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Welcome to this BTC /USDT weekly update. BTC weekly candle is not looking good. Although, holding the $42k support so far but still it does not look convincing.
Only a few hours left in the weekly close. If BTC holds the $42k support and closes above then expect a pump otherwise we might retest the $39k-$40k zone which is a crucial support for BTC. For any bullish movement, BTC does not close below $39k
I'm also applying here fib retracement levels. BTC is getting rejected from $45k where a 0.618 fib level is present which is also called golden pocket. BTC must break and close above this 0.618 level for further bullish movement.
Also, at the $39k-$40 level, 0.786 fib level is present. BTC must hold this level otherwise we might see more dump in the market.
For now, let's wait for the weekly close and I'll update the rest after the weekly close.
If you like this idea then do support it with like and follow.
Also, share your views in the comment section.
Thank You!
Welcome to this BTC /USDT weekly update. BTC weekly candle is not looking good. Although, holding the $42k support so far but still it does not look convincing.
Only a few hours left in the weekly close. If BTC holds the $42k support and closes above then expect a pump otherwise we might retest the $39k-$40k zone which is a crucial support for BTC. For any bullish movement, BTC does not close below $39k
I'm also applying here fib retracement levels. BTC is getting rejected from $45k where a 0.618 fib level is present which is also called golden pocket. BTC must break and close above this 0.618 level for further bullish movement.
Also, at the $39k-$40 level, 0.786 fib level is present. BTC must hold this level otherwise we might see more dump in the market.
For now, let's wait for the weekly close and I'll update the rest after the weekly close.
If you like this idea then do support it with like and follow.
Also, share your views in the comment section.
Thank You!
