#BTCUSDT Don't panic. Last sweep before bull rally?

7 sept. 2021

Welcome to this quick Update, everyone.
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Let's get to the chart!
BTC broke out above the 51.5k level ending up being a fake breakout.
Whales started taking profits here and probably building long positions at lower level now.
The bulls are still strong and I thing there's no need to panic.

Reasons:-
1. BTC is testing the blue trendline which is the resistance turned support level.
2. 46k is an important level
3. 200D MA support at 46k

However there's one condition on which the whole bull rally depends which is holding the 21MA. For that we need a daily close above the 48.8k level.
Only a close above this level confirms a rally towards 54K level.

Else we could see some consolidation around the 43k to 47k area for the next few days and even a week.

Invalidation of this chart would be aa close below the 43k level.

What's your thought on this?

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Thank you


#PEACE

9 sept. 2021

Note

New update coming soon.
Things have changed a bit.