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BTC -
As you saw, BTC tried hard to break $4250 resistance many times but failed continuously to do that.. And again dumped below $3940 weak support and now BTC is trading at around $3750..
What next?
BTC has next major and strong support zone at $3450-3550.. It can pump after coming to this zone or even before coming to that zone as per charts (S/R area) as its making inverse Head And shoulders pattern..
And after pump it can again retest the Resistance at $4250-$4410 zone..
And Again $140 Billion Marketcap resistance will play an important role..
So if it gets broken with strength then we can see BTC at $4600-4800 till first week of January provided that there won't be any Strong FUDS or bad crypto news in market..
Currently rumors are there that - India can legalize crypto with strong regulations..
And GMO internet can stop the manufacturing and development of crypto mining machines which is not a good news.. ( it can be a FUD)
So current conclusion is - BTC is Short term Bullish but it can first test the support area which already told..
So Hope for the Best..
Best Regards..
As you saw, BTC tried hard to break $4250 resistance many times but failed continuously to do that.. And again dumped below $3940 weak support and now BTC is trading at around $3750..
What next?
BTC has next major and strong support zone at $3450-3550.. It can pump after coming to this zone or even before coming to that zone as per charts (S/R area) as its making inverse Head And shoulders pattern..
And after pump it can again retest the Resistance at $4250-$4410 zone..
And Again $140 Billion Marketcap resistance will play an important role..
So if it gets broken with strength then we can see BTC at $4600-4800 till first week of January provided that there won't be any Strong FUDS or bad crypto news in market..
Currently rumors are there that - India can legalize crypto with strong regulations..
And GMO internet can stop the manufacturing and development of crypto mining machines which is not a good news.. ( it can be a FUD)
So current conclusion is - BTC is Short term Bullish but it can first test the support area which already told..
So Hope for the Best..
Best Regards..