3 MAIN POSSIBLE SCENARIOS #BTCexplanation
current main support zones
1)35k & 20 ma monthly & ascending trend line(blue) & 100 ma confluence together
2)30k
3)20k & 100ma weekly & lower trend line support of main ascending channel confluence together
current main resistance zone-45k & 50 ma weekly confluence together
facts
(1)you can see that 35k zone is very important ...there are many confluences together..good zone to re-obtain/gain the bull strength!!!
(2)if btc break 35k zone its gives us a very bearish,bad sign.sooo watch 35k level carefully.
(3)its clear that 45k area also a high resistance zone..if btc break 45k area we can see 48k,52k respectively.(im personaly 50% bullish if that breakout happened)
(4)rsi line have a chance to test the yellow support zone..(im personaly expecting a move like that)
(5)i have a drew a blue trendline traingle watch it too
possibilities
*i have draw 3 scenarios that can happen 1,2,3 in blue,pink,green respectively.
*if we loss 35k ..20k is more possible(if we break 30k zone clearly)...
*if we loss 35k btc may create a reversal pattern like head & shoulder..like head in the 30k zone or 20k zone
my personal idea about btc :-if we loss 35k,30k zones 20 k is comming...its more possible heres not like in 2021 may month . there are many confirmations...rsi levels,fibanachi,ma history more and more...so atleast we must hold above 30k..im completly bullish(100%) if btc break blue traingle upward and establish properly..until then im not trusting the market...
so survive in the market..dont be overbullish!!
#notafinancialadvice just my view.
analyzed by-@movindu karunathilaka
