• Rahul Firez

Will Bitcoin start pumping ? should we start to buy.

Bitcoin is currently in downtrend from last couple of days, the reason can be , Elon musk statement, in that he said that Bitcoin and Ethers price is seems to be high, from that day Bitcoin facing a heavy sell offs.

Presently bitcoin is trading around 46620$, Bitcoin has already tested the first support of 45000$, it may retest the same level soon.

As shown in the image Bitcoin may form the descending triangle pattern we may see the bitcoin in the range of 52500$ to form the descending tringle pattern .

Support And Resistance?

As per the daily time frame bitcoin has first support around 45000$ , and second around 40000$, on the upper side first resistance around 52500$ and ultimate resistance around 58000$.

Buy or Sell entry.

We can long the bitcoin around 45000$ for the first target of 52500$ we can see this in upcoming days with a strict stop loss of 44500$.

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