INDEED BITCOIN HOLD THE $20K SUPPORT.

5 พ.ย. 2022

Well! Well! Well!

Here comes the breakout on BTC. My previous analysis got invalidated cause I expected a quick drop toward the 19.3k support level. Things took a sharp turn on BTC and unexpectedly it rallied all the way up to 21.4k as per the current scenario. This could be a good thing for the market both in the short and long term. If BTC manages to stay above this breakout level then we can consider something massive rolling into the crypto market. But if BTC drops down below it then this could possibly be another trap.

At this point in time, I am not gonna play a scalping game. I would rather bet on long-term gains on BTC and other major altcoins. I am long on BTC at 18.3k and I will continue to hold it. If BTC drops down below 20k once again, I will accumulate more.

Anyways, I will discuss more regarding the long-term perspective on BTC in the higher timeframe update.

Thank you for your continuous support of my content.

Trade safely.