Just a quick consolidation of my last couple charts.
Scenario 1: Bullish continuation following the breakout earlier today. Range between 40-45k in the coming day(s) as we consolidate over the 200 DMA restoring some bullish sentiment in the market.
Scenario 2: Drop down to retest lower leves between 30k and 35k. Likely consolidation after but higher risk of bear market if the price can't regain levels over the 200 DMA in the coming days/week.
Scenario 3: Call this the "Oh Sh*t" Scenario. We have a MM take advantage of the market's fragile position and try to dump the price below reasonable support. At deepest, 25k(ish) is the next floor and potentially a strong bounce from there back to the 30s, but this scenario puts the possibility of continued bull market at major risk.
Scenario 1: Bullish continuation following the breakout earlier today. Range between 40-45k in the coming day(s) as we consolidate over the 200 DMA restoring some bullish sentiment in the market.
Scenario 2: Drop down to retest lower leves between 30k and 35k. Likely consolidation after but higher risk of bear market if the price can't regain levels over the 200 DMA in the coming days/week.
Scenario 3: Call this the "Oh Sh*t" Scenario. We have a MM take advantage of the market's fragile position and try to dump the price below reasonable support. At deepest, 25k(ish) is the next floor and potentially a strong bounce from there back to the 30s, but this scenario puts the possibility of continued bull market at major risk.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.