Possible scenarios on bitcoin
It is very likey in my opinion that the price is developing an ascending triangle, but needs confirmation.
Scenarios:
1. Price reaches a lower low in 53.5k, and breaks ath forming the ascending triangle pattern.
2. Price fails to make a lower low, but support in 51k helds and price retakes bullish force, probably enough to break ATH in the incoming test.
3. Support at 51k breaks, so very likely to reach MA200 at 38-40k.
RSI is not showing strenght, we need also to break the downtrend. Otherwise is very likely that scenario 3 will take place and a great buy opportunity will come.
Scenarios:
1. Price reaches a lower low in 53.5k, and breaks ath forming the ascending triangle pattern.
2. Price fails to make a lower low, but support in 51k helds and price retakes bullish force, probably enough to break ATH in the incoming test.
3. Support at 51k breaks, so very likely to reach MA200 at 38-40k.
RSI is not showing strenght, we need also to break the downtrend. Otherwise is very likely that scenario 3 will take place and a great buy opportunity will come.
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