2 possible scenario’s on BTC
Dear Traders,
In my opinion 2 scenario’s can play out with BTC.
As you can see, the lower blue supportline has been of important value in the past. It started of as the neckline in a H&S pattern in March/April/May 2021, broke, but was reclaimed in August 2021 and has been acting as support ever since. In the meanwhile a second trendline has occured (upper blue line) which together form a Falling Wedge.
The 2 things that can happen are:
1. BTC bounces again from the lower trendline around ~24K or ~19K, and after that break the upper trendline which would eventually lead to a new ATH.
2. The second scenario would be the the lower trendline is broken. In that case sub 10K would be on the table.
This is not financial advice. Just my thoughts. Like and follow if you share this idea.
In my opinion 2 scenario’s can play out with BTC.
As you can see, the lower blue supportline has been of important value in the past. It started of as the neckline in a H&S pattern in March/April/May 2021, broke, but was reclaimed in August 2021 and has been acting as support ever since. In the meanwhile a second trendline has occured (upper blue line) which together form a Falling Wedge.
The 2 things that can happen are:
1. BTC bounces again from the lower trendline around ~24K or ~19K, and after that break the upper trendline which would eventually lead to a new ATH.
2. The second scenario would be the the lower trendline is broken. In that case sub 10K would be on the table.
This is not financial advice. Just my thoughts. Like and follow if you share this idea.
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