BITCOIN.
A retrace seems to be taking place with support at $38k to be tested.
Current resistance stands at $48.5k and will most likely experience multiple tests on a short-mid term basis.
Thus our current trading range sits at $ 38k - $48.5k
Our bullish scenario could see a potential cup and handle which means a test to $60k resistance, I estimate this can take a few months to unfold.
Our bearish scenario is retesting
29K support if above $38k support is broken!
PRICE TARGET: $60k
STOP LOSS : $35k
RISK: Medium-High
A retrace seems to be taking place with support at $38k to be tested.
Current resistance stands at $48.5k and will most likely experience multiple tests on a short-mid term basis.
Thus our current trading range sits at $ 38k - $48.5k
Our bullish scenario could see a potential cup and handle which means a test to $60k resistance, I estimate this can take a few months to unfold.
Our bearish scenario is retesting
29K support if above $38k support is broken! PRICE TARGET: $60k
STOP LOSS : $35k
RISK: Medium-High
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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.