Bitcoin Update: Possible Scenarios
Bitcoin has been in consolidation mode for about 6 months, and now it's almost time to make a decisive move.
Considering the market structure, including the highs and lows, I expect BTC to make another low before heading towards a new ATH. We have two important main support levels at 44K and 37K, where the price could bounce back in case of a market crash in the upcoming month.
I find the scenario of support at 37K more probable than the other two scenarios:
DYOR
Considering the market structure, including the highs and lows, I expect BTC to make another low before heading towards a new ATH. We have two important main support levels at 44K and 37K, where the price could bounce back in case of a market crash in the upcoming month.
I find the scenario of support at 37K more probable than the other two scenarios:
- a bounce back from the 44K level
- or in a bullish scenario, breaking the last high at 70K to make new highs towards 100K
DYOR
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.