Okay, here are some subjective scenarios with drawings:
a) BTC could accumulate between 25,000 to 32,000 for a while.
a.1) BTC will break out at 32,000 (next attempt).
a.2) BTC will fail, one more attempt again, and if that fails, it could drop to 20,000.
b) Now, If we fail the support at 25,000, it could go down to 20,000.
Resistance is strong; we've tried to breach it twice, but we're still below 32,000.
25,200 is the local support on the 1D chart. A breakdown would mean a drop to 20,000.
a) BTC could accumulate between 25,000 to 32,000 for a while.
a.1) BTC will break out at 32,000 (next attempt).
a.2) BTC will fail, one more attempt again, and if that fails, it could drop to 20,000.
b) Now, If we fail the support at 25,000, it could go down to 20,000.
Resistance is strong; we've tried to breach it twice, but we're still below 32,000.
25,200 is the local support on the 1D chart. A breakdown would mean a drop to 20,000.
Note
should break down soon, I dont see any good limits/interest to hold the price here.Note
20k is just a number we need to reach, market is bored, market is weak..Note
BTC has been weak since June. Why should it rise? The daily chart since jun has completely pointless candles and movement.
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.