BTC Chart - Bullish / Bearish in short term
Updated
BTC chart looks confusing one right now. I am super bullish in next 2-3 months. However, there are two scenarios which I would like to share with you all here could play out in short term.
Scenario 1:
BTC breaks down one more time from this diagonal resistance and daily 200 EMA, and get the liquidity from 50k-52k zone before moving back up.
Scenario 2:
BTC breaks out from this daily downward resistance, test or break the 64K zone and go back to test the 72k zone again.
We need a good positive news like ETH ETF launch and institutions inflows etc. in order to go from this zone. Otherwise, we are going to test the lows first before going back up.
Would love to hear other traders opinions and thoughts...
Scenario 1:
BTC breaks down one more time from this diagonal resistance and daily 200 EMA, and get the liquidity from 50k-52k zone before moving back up.
Scenario 2:
BTC breaks out from this daily downward resistance, test or break the 64K zone and go back to test the 72k zone again.
We need a good positive news like ETH ETF launch and institutions inflows etc. in order to go from this zone. Otherwise, we are going to test the lows first before going back up.
Would love to hear other traders opinions and thoughts...
Note
Seems like Scenario 2 is working perfectly right now. Upward momentum would be confirmed if 2 daily candles closed above 64K.NOT A FINANCIAL ADVICE !! DO YOUR OWN RESEARCH
Note
Scenario 2 worked out perfectly. Keep booking profits cuz we soon will see manipulative moves to the down side either at 72K level which is a huge resistance or from ATH.Trade closed: target reached
TP reached
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