#Traveling_Trader #BTC_Update BTC/USDT did not fail us on th | Insider leak of the day

#Traveling_Trader
#BTC_Update
BTC/USDT did not fail us on the 50 MA a week ago thank goodness. We have now bounced off of that level convincingly and completed the rounding bottom accumulation pattern after a momentous uptrend, which is very bullish. There is bearish divergence between the price and the oscillator indicators but to me this is rather benign. I could see Bitcoin retest the $42K level as support since we didn't spend a lot of time there. But as I said in previous bullish cases the 1.272 Fib extension is at the $50K level and in my view we will get there. Props to those who successfully cashed out and bought the dip at the 50 MA...also to those who just held because there's no shame in holding either.

Above the $50K level the 1.618 Fib extension is at $61K. This area might be extremely hard to hit in the near term so for now I'm focusing on how Bitcoin will react to $50K. One thing's for sure though, even in the next major crash we can expect Bitcoin to uphold the $20K area, which seemed like a fantasy a few months ago. Now we expect it as a support level.

Bitcoin is a definite hold here, obviously
https://www.tradingview.com/x/YtHSnUZf/