BTC a short-term scenario
Updated
BTC reached briefly its previous ATH, prompting a predictable correction as investors capitalized on their profits. BTC is likely to fluctuate within the range of $61,000 to $69,000, with some potential deviations.
It remains early to determine whether BTC will sustain its upward momentum following a period of consolidation, or if further correction will come, potentially leading to the $51,000 to $52,000 range.
Personally, I lean towards a distribution scenario, as depicted in the chart. However, market dynamics can be unpredictable, and various factors could influence BTC's trajectory. So let's watch carefully the next moves.
What are your thoughts?
Disclaimer:
This analysis is based on my personnal views and is not a financial advice. Risk is under your control.
It remains early to determine whether BTC will sustain its upward momentum following a period of consolidation, or if further correction will come, potentially leading to the $51,000 to $52,000 range.
Personally, I lean towards a distribution scenario, as depicted in the chart. However, market dynamics can be unpredictable, and various factors could influence BTC's trajectory. So let's watch carefully the next moves.
What are your thoughts?
Disclaimer:
This analysis is based on my personnal views and is not a financial advice. Risk is under your control.
Note
Update: Note
Rejection will be confirmed again? Reference plan is still valid at this step:
Note
BTC didn't drop when toucing the higher range, yesterday. It still holds since a day.My market sentiment changes a bit and become neutral now.
I'll not short or long at this price but waiting for a drop to the lower range for potential new Longs.
Note
Scenario is no longer valid or will go in a different way. I closed this analysis here.Thanks for watching it.
Disclaimer
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