Bitcoin:Bears should pay attention!

By amtraderpro | amtraderproTA | 4 May 2021


Hi guys! It's been a while since my last post. I took a long holiday to travel and get some rest away from the charts. Now I'm back and ready to roll! We saw some obvious manipulations on the market the last couple of weeks. The intention was to shake out all the paper hands and all the newbies that came into the crypto market in April, buying the tops and selling the dips. In my opinion there is a lot of fuel in the tank for Bitcoin to go for new highs in macro outlook. Locally the situation is a bit undecisive although, looking like bulls try to take over. The $55000-55500 area is crucial and needs to be defended in order to see further movement towards $58500-61500 levels. Currently we are forming higher highs and higher lows which indicates the bullish sentiment. I remain bullish on BTC and expect this summer to be really hot! However due to the fact that the crypto market is relatively small, it is very easy to manipulate it as we saw few days ago and in case of breaking down and closing 4h/daily candle below $55500 we could possibly see $54000-52500. There is no much more to say about BTC now cause it's altseason and the major attention is focused on alts market. Follow me, I will be posting more ideas on alts later. 

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:DISCLAIMER:

This is my trading idea. I am neither a financial advisor nor I urge you to trade my idea.

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amtraderpro
amtraderpro

Day trader, crypto investor. HODLING bags of BTC ETH DOT KSM GLQ RSR AKRO BTS AMB CHZ BNB SAND REN KEEP AXS MATIC LUNA TVK AKT PAINT TRB VET SXP ARPA NEO FET EGLD NOT FINANCIAL ADVICE #DYOR


amtraderproTA
amtraderproTA

Technical analysis of charts

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