There is likelihood for correction. And i believe some rebounds can be expected at the support level. That kind of levels can be found on the bigger time frame.
Scenarios focusing on major resistance level
#1. Current resistance level
When BTCUSD cannot break the resistance $8,463 and degrade again, this can be considered
But i believe rebound also can be expected because there are some support levels in lower side
#2. 8600~9300 Major Resistance level
When BTCUSD break the resistance $8,463
- $8,650-8,800
-...
BTCUSD analysis
As i mentioned yesterday, $8,240-$8,300 level is quite heavy resistance on the logged scale chart and it's ongoing correction waves by this trend line resistance.
And now, I believe BTCUSD reached a most critical moment for recent days!
At the 1hr chart, it seems to be a small triangle! If the short-term convergence keep going, the future...
Yesterday, the 5 waves were ended at $8240 and now correction waves are in progress. As the middle-term trend line(line along the 6k and 7.2k) is located, the price level $8240 acted as the major resistance. That's why the correction wave began at this level. To break the major level $8300, BTCUSD have to get force to jump up through this correction.
Now, the...
![BTCUSD: [BTCUSD] Several Scenarios in short-term](https://s3.tradingview.com/c/C4n9BjOy_mid.png "[BTCUSD] Several Scenarios in short-term")
![TRXUSD: [TRXUSD] end of the triangle - LONG](https://s3.tradingview.com/5/5H6jwY32_mid.png "[TRXUSD] end of the triangle - LONG")
![BTCUSD: [BTCUSD] A healthy correction! Short-term analysis](https://s3.tradingview.com/g/GrvgnFG9_mid.png "[BTCUSD] A healthy correction! Short-term analysis")
