BITCOIN Next Days/Weeks Happy Thursday Traders & Investors
Let's look at a couple of likely scenarios for Bitcoin and the key levels to keep an eye on:
Option A:
Bitcoin lays right on the riffled support line of the current downtrend, and could bounce to test the area around 28.500$ where the downtrend resistance lays in confluence with some major Fib. Levels of different retracements from the highs and lows of the overall uptrend.
A brake above that key resistance area would likely take #BTC to retest the uptrend support and bring new highs in the range between 34-35.000$
On the other hand, a rejection in the 28.5k area would take #Bitcoin back down to a crytical level where Bulls will want to see Bitcoin forming a higher low on the overall uptrend, ideally above the dotted trendline which is also supported by some important Fib. levels and the riffled support line of the current downtrend at around 25.000$
Option B:
If the bears take control and brake below the current riffled downtrend support line, we could see Bitcoin dropping straight down to about 23.800$ and the previously mentioned uptrend support in confluence with crytical Fib. Levels where Bitcoin will need to find a bounce in order to avoid a drop all the way down to the range of 22-21.500$
I would like to add that this is only for educational purpose and in no way a guarantee that it will play out this way, nor is this or are any of my posts financial advise.
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Happy Trading ✌🧡📈
