BTC to enter sideways choppy period - THEN UPWARDS
It's gonna be choppy for the rest of the week. Some will lose hope and sell, others will be fed by the fear and buy.
On the hourly chart, If we close below the mild support line (currently around 34k), we will once again test the important level on 4H time frame. If we close down below 31.5k, then there is nothing in between but to lay down to 26-27k region. At that time, there will be huge demand and a possible strong reversal. The buyers of all kinds will be waiting for that and so for that reason only, whales shouldn't be allowing it. But if the whales are really exiting, than testing 26-27k will not hold and we'll see much down below towards 20k. And while we are there, we may want to close a couple of CME gaps around 17-18k, almost instantly.
However, i am positive and probably we will remain choppy between 32k and 34k for a couple of days, accumulate and then jump back right up from the intersection of the resistance levels. Maybe we can stay choppy in between 32k-36k as well. Let's see how this plays out
On the hourly chart, If we close below the mild support line (currently around 34k), we will once again test the important level on 4H time frame. If we close down below 31.5k, then there is nothing in between but to lay down to 26-27k region. At that time, there will be huge demand and a possible strong reversal. The buyers of all kinds will be waiting for that and so for that reason only, whales shouldn't be allowing it. But if the whales are really exiting, than testing 26-27k will not hold and we'll see much down below towards 20k. And while we are there, we may want to close a couple of CME gaps around 17-18k, almost instantly.
However, i am positive and probably we will remain choppy between 32k and 34k for a couple of days, accumulate and then jump back right up from the intersection of the resistance levels. Maybe we can stay choppy in between 32k-36k as well. Let's see how this plays out
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