Be cautious! Bitcoin can dump even more!

This is a very lenient chart analysis of BTC (I would say) where I have made ascending triangle by joining wick to wick.

Although, BTCUSDT broke out in the downward direction yesterday and successfully bounced out from 61.8% Fibonacci golden ratio to retest the previous support as resistance. Currently, BTC is in the retest phase and is facing a resistance of $38000.

According to my technical analysis, if BTCUSDT comes down and breakdown the previous low of about $31000, it can go up to a 1.618 golden ratio that values around $22900. And yes, from the previous BTC price action, we know it has strong support at around $23000.

Just to remind you, I made multiple predictions for BTC when everyone around was shouting of BTC at $100k!

Here is my analysis on BTC when it was at $50000 giving a short signal, if some of you followed it, you're probably in 40% profit!



Comment in your thoughts & queries.

Muneeb