Bitcoin, Midterm rally starting...
As you see ≈10400 which rejected price several times last year is clearly broken as well as 10800 which was a monthly resistance level and longterm bearish trend.
Area is so strong that we can expect it to push the price up to ATH with small corrections, this will be my super bullish scenario which a breakout of 11500 on lower TFs can be a further confirmation for this scenario. It will be something very similar to what we had in first half of 2019.
Second scenario is a slower bullish trend with deeper corrections, which should start with a correction in short-term to 10k-10.8k. Losing 11500 support before closing a complete daily above can alert this scenario.
Shorting it is the worst idea, but we can spot buy the supports.
At the end losing 10k will be a warning but losing 8900 can be considered a total failure and even shorted with strong possibility of starting bearish trend.
Wishing you a good luck :)
Area is so strong that we can expect it to push the price up to ATH with small corrections, this will be my super bullish scenario which a breakout of 11500 on lower TFs can be a further confirmation for this scenario. It will be something very similar to what we had in first half of 2019.
Second scenario is a slower bullish trend with deeper corrections, which should start with a correction in short-term to 10k-10.8k. Losing 11500 support before closing a complete daily above can alert this scenario.
Shorting it is the worst idea, but we can spot buy the supports.
At the end losing 10k will be a warning but losing 8900 can be considered a total failure and even shorted with strong possibility of starting bearish trend.
Wishing you a good luck :)
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