#BTC can hit $40k by May but not without Corrections!!

20 mar 2023

Welcome to this weekly Bitcoin update everyone.

Few Points to observe from this chart:-
1. BTC has broken above the weekly 200MA
2. BTC is approaching the important resistance of 29k.
3. The current area needs to be broken for further continuation.
4. The weekly chart shows a possibility of 40k to be hit by June's first week.
5. A successful correction around the 25K zone is needed and that will be the buy level for those who missed the move.

So looking into all these signs it's better to be positioned in BTC if you are here for the long term.
I am looking into ALT/BTC Pairs and will start accumulating slowly when BTC Dominance hits the 48% level.
TBH, This chart shows there's also a possibility that Dominance can break even above the 48% level after a few rejection candles (That is the time when Alts will breathe). So we will be cautious in that case.
I will give you a heads-up if that scenario seems likely.
For those who are leveraging now, it is better to book profits and wait for corrections.
I've closed all my positions except BTC where my entry is around $16400.

PLEASE OBSERVE THE CHART FOR MORE INFORMATION.

Conclusion:- BTC has never been this bullish in the last 18 months.
Expect short-term pullbacks around the 25K-26k area when it hits the 30k zone.


DYOR, This is not a financial advice

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Thank you

#PEACE