BTCUSD perhaps the bullish scenario will ensue
Three days ago, I posted that BTCUSD was likely to pull back and presented 2 likely scenarios:
It seems that a bullish scenario is more likely now, though the entire move has not played out. I continue to believe that a deeper retracement in the short-term that coincide with the upcoming golden cross will signal the start of the bull cycle. (Bullish case as charted).
However, if we see low volume fake pumps that sustain the price and again slowly drain the market of enthusiasm, a double bottom is not impossible (Bearish case as charted).
Btw, I believe that Bitcoin will lead altcoins:
It seems that a bullish scenario is more likely now, though the entire move has not played out. I continue to believe that a deeper retracement in the short-term that coincide with the upcoming golden cross will signal the start of the bull cycle. (Bullish case as charted).
However, if we see low volume fake pumps that sustain the price and again slowly drain the market of enthusiasm, a double bottom is not impossible (Bearish case as charted).
Btw, I believe that Bitcoin will lead altcoins:
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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.