Bitcoin (BTC) Will Be Proven Once Again A Get-Rich-Quick Scheme After Breaking Out This 200 SMA


Hi friends hope you are well, and welcome to the new update on Bitcoin.

 

Support and resistance levels and another rejection:

In an hourly time frame, Bitcoin is again rejected by $21360 resistance and even broke down the previous support of $20800. Now BTC is moving between the $20500 to $20800 range.

TradingView Chart

 

Head & Shoulder:

On a 4-hr time frame, after breaking out an inverse Head $ Shoulder pattern, Bitcoin is testing the neckline of this pattern as support.

TradingView Chart

 

Weekly 200 SMA:

On a weekly time frame, Bitcoin is still not able to breakout the 200 simple moving average, and once BTC will be able to break it out then again Bitcoin can start a long-term upward stable move.

TradingView Chart


 

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