BTC - 6h. Moment of Truth in the range of $68,000-69,000

16 Apr 2021

Hello colleagues! We haven't reviewed the situation on the BTC market for a long time. Therefore, we decided to catch up with the lost. In principle, one of the reasons why our last BTC idea was back on April 6th is its wonderful development:

So far, the BTC price has not reached our target, but it was already close enough. Buyers managed to break through the previous all-time high. This event took place on April 10. Only after the retest and consolidation of the BTCUSDT price above the mark of $59,000, buyers continued to grow again.

Globally, the BTC price continues to move within the global wedge. On April 7, sellers lacked the strength to test the lower trend line of this wedge. The local target of buyers at the moment is a test of the $68,000-69,000. It is in this range that the next medium-term price movement in the bitcoin market will be decided. Of course, I would like to see a juicy correction, but it is important to look at the nature of the continued growth.

If buyers now hold the range of the previous high ($ 61000-61800) and we see a new powerful impetus for growth on large volumes, we do not exclude the scenario of breaking the black wedge upwards.

A slowdown in the growth of the BTC price, which will be accompanied by reduced volumes, will be a bright signal for a possible sharp fall with the first target of $56,500.

Therefore, the main scenario for us at the moment is continued growth to $68,000-69,000. When the BTCUSD price reaches this range, we will create a new idea!

P.S. what do you think about the situation on the BTC market? Throw your prediction charts! We will donate the chart that will collect the most likes in the comments!
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We create both short-term ideas (for a local understanding of the market situation) and medium-term forecasts of price movements.
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