Bitcoin was going to 10K $ according to most of the analysts and so-called crypto traders back a few months ago and now we are here at 50K$ or Bitcoin is now fighting with 50k$ . Trying to break the major resistance from which everything has fallen out last time.
Please look at my post which I had made during Bitcoin was trading at around 30K$ or the same time when there was a whole pandemic ongoing into the crypto market.
You will understand the difference between projection and prediction. You can find the article here:
HOW HIGH AND LOW BTC CAN REACH?
And, Before the alt season has started I had created the article about it saying there is huge potential of high cap alts breaking out. The best thing was that that post got 0 Reach and I guess nobody got benefitted except me. The link to the post can be found here:
Alt season on its way
Right now, Bitcoin is facing major resistance of 50K$ and everyone knows that. So, there is a catch with it be sure to read until the end. Because you know half information is always bad.
This is the picture of Bitcoin Performance right now. The thing happening right now is Bitcoin is trying to break the level again and again and you can see there are multiples tries but all of them had failed.
But the good thing is that the zone is becoming less after each tries because the pullback you can see is small after hitting 50K$ each time.
The neckline is the one you can see and after we break it and if successfully retested the next move is going to be insane.
These are the most important things, everyone should look for them right now. Because Market Makers knows that everyone is looking for 50K$ to break for right now and it is the psychological level also.
They may try to make a spike so that all shorts get liquidated and move the price down so that longs get liquidated.
This happens most of the time before a big breakout and every time traders fall for this trap.
They may go for a sudden spike and all those tik-tok traders who have the limit orders at 51K will get filled out and the price may go straight down to hit their stop loss. You must be aware of these things and wait until there is a successful breakout and a clear move towards upwards.
If you miss one move, it is ok you will find out another one but if you fall into FOMO, you will get liquidated into the matter of seconds. So, please think a little bit more when the price is at critical zones like this.
