BTC/USDT (Bullish Monthly Candle?)

💎Technical Analysis Summary💎


BTC/USDT

-Finally, the month of March is already completed and BTC closed above 45k dollars
-Technically, this is a good sign in the short term trading for the crypto space
-Because we have seen many Altcoins have performed very well these past few days
-Looking at the EMA indicators, BTC has been respecting this since July 2021, Jan-Mar 2022
-EMA 19 & 23 acted as a dynamic support area and the price has never closed below it
-That is a good price action but we should also look at the potential bearish side
-The bearish scenario is simple, a strong rejection at the current price level and retest of the 40k support
-That would indicate an H&S pattern in the monthly point of view which could lead to a strong panic sell
-But if BTC can reclaim above 55k dollars, expect a new ATH level is in play in the next few months
-For now, let us focus on the short term trades and always manage our winning positions
-I have updated my trading watchlist for new potential ideas in the coming days
-I hope everyone is also doing well in their trading business
-Good luck and stay safe!






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