Bitcoin: BEARcoin, SIDEcoin, or BULLcoin?
Hello Traders! Bitcoin as of the moment is very volatile, so prices will go in any direction possible. So today, I present to you the 3 most likely scenarios for BTCUSD.(not in order of likeliness)
1. A Head And Shoulders Pattern is Forming
An H&S pattern may be forming. If it happens, the Left shoulder and Head are already formed. The right shoulder is on the first half of its life. We still have to wait for confirmation if this pattern will happen.
If this happens, we can expect a steep breakdown with a heavy volume of the 30k support for the price to tumble to the next support of 25k.
2. Consolidation in the 30 to 35k range
Bitcoin may consolidate into the 30 to 35k range, as the 35k zone is already resistance. This will happen if the market is still deciding on when to be a bull or a bear. Consolidation may last for 2-5 days only, because of the current volatility of the market right now. After, it is a matter of up or down.
3. The Bitcoin uptrend will just continue
It is possible that the Bitcoin bull trend will just continue. The 3-times-hit-by-steep-pullbacks bullish trendline still isn't broken. If this scenario happens, we can expect a rally to 40k, and we will see what happens after that. Either a double top or a bullish continuation. And mysteriously, there is a Bitcoin cycle... check the Related Ideas below. Still, we have to wait for confirmation, by breaking the 35k resistance.
What do you think? Are you a BULLcoin, SIDEcoin, or BULLcoin? Tell me in the comments below!
Thank you for reading! Make sure to like and follow for more!
1. A Head And Shoulders Pattern is Forming
An H&S pattern may be forming. If it happens, the Left shoulder and Head are already formed. The right shoulder is on the first half of its life. We still have to wait for confirmation if this pattern will happen.
If this happens, we can expect a steep breakdown with a heavy volume of the 30k support for the price to tumble to the next support of 25k.
2. Consolidation in the 30 to 35k range
Bitcoin may consolidate into the 30 to 35k range, as the 35k zone is already resistance. This will happen if the market is still deciding on when to be a bull or a bear. Consolidation may last for 2-5 days only, because of the current volatility of the market right now. After, it is a matter of up or down.
3. The Bitcoin uptrend will just continue
It is possible that the Bitcoin bull trend will just continue. The 3-times-hit-by-steep-pullbacks bullish trendline still isn't broken. If this scenario happens, we can expect a rally to 40k, and we will see what happens after that. Either a double top or a bullish continuation. And mysteriously, there is a Bitcoin cycle... check the Related Ideas below. Still, we have to wait for confirmation, by breaking the 35k resistance.
What do you think? Are you a BULLcoin, SIDEcoin, or BULLcoin? Tell me in the comments below!
Thank you for reading! Make sure to like and follow for more!
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