BTC moon or minor pullback in store
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I am overall bullish on BTC.
BTC is reaching a crucial resistance level at 10k. It seems as we have the momentum to reach it at the very least. The question we have to ask is if have enough momentum and buyer confidence as of right now to the next resistance level at 11.6k or are we in for a slight pull back.
The move from 3k-8.5k is supported by the MFI.
The move from 8.5k-9.9k where we are now, we see a bearish divergence on the MFI.
My guess is that we have to at least retest the 50ma which looks like it will be around 8.5k if and when it does pull back before the next launch to 11k-15k. When we do reach these levels again, the BTC rally will be huge and could even push it up to the previous 20k with ease. Everyone was talking about BTC from 10k-20k. People that didn't buy it last time will definitely buy it this time. People that bought it near ATH will be watching closely at prices again.
It should also be noted that BTC does not follow the usual rules of TA and may easily blast through resistance levels like butter like it did at 6.5k. If we can hold above 10k then 11k-12k is in sights in the short-mid term.
I'll be watching for signals on the daily for trend changes.
Would love to hear everyone's thoughts or ideas
BTC is reaching a crucial resistance level at 10k. It seems as we have the momentum to reach it at the very least. The question we have to ask is if have enough momentum and buyer confidence as of right now to the next resistance level at 11.6k or are we in for a slight pull back.
The move from 3k-8.5k is supported by the MFI.
The move from 8.5k-9.9k where we are now, we see a bearish divergence on the MFI.
My guess is that we have to at least retest the 50ma which looks like it will be around 8.5k if and when it does pull back before the next launch to 11k-15k. When we do reach these levels again, the BTC rally will be huge and could even push it up to the previous 20k with ease. Everyone was talking about BTC from 10k-20k. People that didn't buy it last time will definitely buy it this time. People that bought it near ATH will be watching closely at prices again.
It should also be noted that BTC does not follow the usual rules of TA and may easily blast through resistance levels like butter like it did at 6.5k. If we can hold above 10k then 11k-12k is in sights in the short-mid term.
I'll be watching for signals on the daily for trend changes.
Would love to hear everyone's thoughts or ideas
Komen
Broke through 10k resistance like butter. waiting to see 12k
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