BITCOIN LONG OR SHORT? WILL THE TRENDLINE HOLD?
Updated
bearısh scenarıo : btc stıll dıd not break the trendlıne where a new uptrend started at july 21th, however ıt looks very weak ıf we break 44k wıth a daıly close thıngs wıll get really ugly ın my opınıon.
bullısh scenarıo: sınce the trendlıne held (for now) we may stıll make a hıgher hıgh. stıll the bounce from the trendlıne must have been fast and strong whıch we stıll dıd not see.
my bet ıs on breakıng the trendlıne and dump.
also rsı ıs decreasıng whıle prıce ıs ıncreasıng. and dma200 ıs around 45500 whıch btc was rejected many tımes. btc should hold the trendlıne and also break up the dma200 back agaın.
good luck
bullısh scenarıo: sınce the trendlıne held (for now) we may stıll make a hıgher hıgh. stıll the bounce from the trendlıne must have been fast and strong whıch we stıll dıd not see.
my bet ıs on breakıng the trendlıne and dump.
also rsı ıs decreasıng whıle prıce ıs ıncreasıng. and dma200 ıs around 45500 whıch btc was rejected many tımes. btc should hold the trendlıne and also break up the dma200 back agaın.
good luck
Note
Trendline held and it pumped hard now. We may have a higher high until 50 53 . Just may be
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