BTC: What's the Next Path?
BTC just broke out of the descending channel today, however, it does not mean it is bullish (yet).
Here are the two short-term scenarios that could play out:
Bullish scenario: Assuming BTC stays above 47K, it could push toward the next main resistance of around
52K - 53K. If we break through that, then it's most likely a reversal in progress.
Bearish scenario: BTC makes a lower low, testing the low 40K area again before moving up higher.
This is not financial advice. These are just my ideas and opinions.
Here are the two short-term scenarios that could play out:
Bullish scenario: Assuming BTC stays above 47K, it could push toward the next main resistance of around
52K - 53K. If we break through that, then it's most likely a reversal in progress.Bearish scenario: BTC makes a lower low, testing the low 40K area again before moving up higher.
This is not financial advice. These are just my ideas and opinions.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.