If BTCUSD closes above its previous high, the jet will be ready
In weekly timeframe, we can see a ascending channel in which the price is about to complete a pullback.
And in daily chart we see this smaller channel in which the price is somewhere near the top.
Now, several scenarios can take place:
1. The price strongly crushes the daily channel's top and continue to make new highs which is a bit unlikely according to the RSI.
2. The price rises till the top about 73k and then retrace to test that valid support zone and then begins a huge uptrend which won't finish at least for another 6 months.
The best thing to do is to split your money and wait for retracements.
Please energize me with your likes and comments.
And in daily chart we see this smaller channel in which the price is somewhere near the top.
Now, several scenarios can take place:
1. The price strongly crushes the daily channel's top and continue to make new highs which is a bit unlikely according to the RSI.
2. The price rises till the top about 73k and then retrace to test that valid support zone and then begins a huge uptrend which won't finish at least for another 6 months.
The best thing to do is to split your money and wait for retracements.
Please energize me with your likes and comments.
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