Scenario 1:
Looking bearish with the
- Head and Shoulder in sight.
- Rising Wedge forming (still needs more time).
If the support trendline breaks, we might see a drop to 30k levels. And going down all the way.
Scenario 2:
Bullish scenario
- Head and Shoulder in sight.
- Rising Wedge forming (still needs more time).
If the support trendline breaks, we might see a slight sell pressure from the whales; giving more fear to the mass. And pump it while whales catch all the mass sell orders.
Just my cents. I'll stick with scenario 2. Support resistance is quite strong.
Note
Looks like it played out well. Looking forward to my short-term bullish position
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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.