Dear Readers,

At the time of writing this article BTC trades at $ 61023, +0.20% and the cryptomarketcap stands at 2.26 Trillion USD with a up of 0.18% from yesterday.

The fear greed index stands at 51, which indicates the neutral in the cryptomarket.

Let's quickly explore the technicals on BTC with this article.

If we see the RSA of the BTC in the 1 day chart, it is trading at the mid region. 

The price of the BTC has recently touched the 100 DMA price and bounced back. 

If BTC gives a close >$ 60,800 by this week, then there would next be a rally start for BTC.

If it breaks this level, $ 60000 range serves as a big support. If it slips ever down, the next support would be $56500-$55000.

If it even breaks this level, the BTC price may go to 52000-51000. But to trigger this level, there should be a major negative news for BTC. But there is no anticipation of the negative news for BTC in the market. 

But this week, if BTC pumps above > $60800, there are chances for the uptrend movement in BTC. 

If you just zoom out and see the BTC halving analysis, you would probably understand at which point that we are in.

In the last two halving of BTC both in 2016 and in 2020, BTC prices were in bull run after making a correction after the halving process. Likewise, there are so many chances for a bull run in the BTC prices as well at this point in time. 

If BTC corrects down further, we may prepare ourselves to make an investment in BTC for the next bull run!

Please remember to DYOR before investing as the cryptomarkets are widely unpredictable and highly volatile in nature. 

===

Join the fastest growing social network tangled and monetize all your contents and earn a lot with my referral https://hiraj.tangled.com/join