A fall or a pullback for BTC?

18 Ogo 2021

Here's an exclusive update on BTC price action in 4 hours timeframe.

Welcome folks to the important update on BTC. Before going to the chart, I would like to share my gratitude and a heartfelt thank you for your support, likes, and comments.

Now let's dive in straight to the chart.

BTC was expected to reach the 49K to 50k price range the way it was rallying but to our surprise, it got rejected after reaching $48075. BTC broke down up to $44218 close to the 200 hourly moving average.

Now as the title reads 'Is it a fall for BTC or a pullback before the jump?'

The reason why I wrote this title is clear in the chart. The 21 MA and the 50 MA are crossing each other in the 4 hours chart. I am worried because this crossing isn't a bullish crossover; it is bearish and if BTC does not break this, then things may go wrong for BTC. Well, if at all BTC breaks down from its current price, we still have strong support at the 43k level where we have the 200 MA. We may see a bounce from the 200 MA if we are in a falling situation.

Currently, BTC is bouncing from the lower trendline (support), trying to reach the 46K price. If BTC manages to reach the 46K again then a breakout and daily close above the 46K level will be a bullish sign for BTC. On the other side, a rejection from the current price will result in breaking down towards the 43k. Further, if BTC fails to bounce from the 43k and breaks down even further then the market will be completely bearish.

So, things we need to keep an eye on is the 46K and 43k level.

That's it for now. If you guys like my update or have any suggestions or want to share your charts then feel free to like, share, and comment.
I would love to exchange knowledge on this.

Thank you.

19 Ogo 2021

Nota

From this point, either we will see a bounce or further breakdown.

19 Ogo 2021

Nota

Correction, it's 100 MA, not 200.