Scenario 1:
If the current bearish correction ends at this support zone, the price will hold here. Further consolidation will occur for a couple of hours, followed by a slow bounce back. We might see minor resistance during this reversal, with the next target around 69K.
Scenario 2:
If the current support zone fails to hold, the next support is around the 63K zone. This is a stronger support compared to the current one and is likely to hold as the overall sentiment is bullish. We can expect the price to consolidate around this zone, then bounce back and consolidate around the 65K resistance, and finally hit the target of 69K.
Feel free to share your thoughts and insights.
Don't forget to like and follow us for more trading ideas and discussions.
Best Regards,
VectorAlgo
If the current bearish correction ends at this support zone, the price will hold here. Further consolidation will occur for a couple of hours, followed by a slow bounce back. We might see minor resistance during this reversal, with the next target around 69K.
Scenario 2:
If the current support zone fails to hold, the next support is around the 63K zone. This is a stronger support compared to the current one and is likely to hold as the overall sentiment is bullish. We can expect the price to consolidate around this zone, then bounce back and consolidate around the 65K resistance, and finally hit the target of 69K.
Feel free to share your thoughts and insights.
Don't forget to like and follow us for more trading ideas and discussions.
Best Regards,
VectorAlgo
Note
Scenario 2 is playing outNote
BTC moved exactly as per my analysis
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Enhance. Trade. Grow
🖥 Website: vectoralgo.com/
✈️ Telegram: t.me/VectorAlgo
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🕸 SocialMedia: linktr.ee/vectoralgo
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🖥 Website: vectoralgo.com/
✈️ Telegram: t.me/VectorAlgo
🤖 Auto Trading Bot: t.me/VectorAlgo_Bot
🕸 SocialMedia: linktr.ee/vectoralgo
Join for latest signals/updates/advice.
Related publications
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.