BTC: ALL WE NEED IS A RETEST AND NOT A BREAKDOWN.

31 พ.ค. 2022

Welcome folks to this new update on BTC/USD in 4 hours timeframe.

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Alright, let's get back to the chart.

We have seen some positive moves coming in on BTC lately. The daily close for BTC was at $31726 which was perfect for the upcoming expected rally. In a higher timeframe (1 Day or 2 Days chart), BTC is most likely to bounce back and in a lower timeframe like 4 hours, BTC should show some retest. The clear reason for the retest is the RSI. The RSI is in the overbought zone which needs to come down. Honestly, I will be delighted if BTC rallies further from the current level but if BTC is aiming for a sustainable bullish rally then it must show some retest at around the 30.4k level.

What do you think about the greens on BTC? Do you think it will sustain or is it just a trap?

Share your views in the comments.

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