2 Possible Scenarios
BULLISH:
All it takes is 1 bullish day with a breakout
above 50 MA and price likely continues up
to next resistance likely around 3000 at
100 & 200 MA.
If that happens and it continues higher
bitcoin will likely take off higher as well
and potentially reach up to around 9000
BEARISH:
A breakdown from resistance of the 50 MA could
send price down to test prior resistance as support
or a retest of the prior swing low or a stop hunt
below that. Likely not new lows due to already retracing
55% overall from the current bear market bottom.
(Which historically indicates the bear market has bottomed.)
All it takes is 1 bullish day with a breakout
above 50 MA and price likely continues up
to next resistance likely around 3000 at
100 & 200 MA.
If that happens and it continues higher
bitcoin will likely take off higher as well
and potentially reach up to around 9000
BEARISH:
A breakdown from resistance of the 50 MA could
send price down to test prior resistance as support
or a retest of the prior swing low or a stop hunt
below that. Likely not new lows due to already retracing
55% overall from the current bear market bottom.
(Which historically indicates the bear market has bottomed.)
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.
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.