Welcome to this quick update, everyone. BTC broke on 4th Feb, do you remember the chart that I have posted on 4th Jan? If not, check it out, I'll leave the link below this update. Though I got a bit drifted away with the short-term charts, BTC did manage to close above the 38k level making it bullish in the short term. This was the surprise I have been talking about.
So the question is what's next?
IMHO, BTC broke out nicely and is ready to go up only if can fulfill these conditions:-
1. Holding the 38k level on daily 2. Closing above 21MA in 2 Day chart (15 hours left for the candle to close) 3. USDT dominance breaks and closes below 21 MA in the 2-day chart. 4. Weekly close above 51.5k for new ATH
All this bullishness could end up being a big trap if the 3rd condition doesn't get fulfilled in the next candle closes.
Also, the 38k level has not been tested yet.
So be careful trade mostly the short-term setups. I'll keep you posted with this chart.
What's your thought on this? Do hit the like button and share your views in the comment section.
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