BTC/USDT Where is the next move for BTC ? Bitcoin Today Analysis
Hello Paradisers, BTC Analysis: Navigating a Volatile Landscape
💎BTC has experienced a sharp decline, plummeting to the
25K region and breaking its bullish support trend.
💎Currently, it's been trading sideways for about five days within the $25,180 to $26,850 range. Utilizing Fibonacci retracements, I've identified two potential scenarios for BTC's next moves.
1️⃣ First Scenario: BTC could rise to test the supply zone between $26,350 and $26,550. Following this, a significant drop could occur, reaching down to grab liquidity at lower levels before bouncing back up to test the previously broken bullish support trendline.
2️⃣ Second Scenario: BTC could directly break through the upper liquidity range and aim for the bullish support trendline situated between 28k and $28,500. After reaching this point, a steep decline could be on the horizon.
💎Both scenarios offer different risk and reward profiles, so proceed with caution.
💎BTC has experienced a sharp decline, plummeting to the
25K region and breaking its bullish support trend. 💎Currently, it's been trading sideways for about five days within the $25,180 to $26,850 range. Utilizing Fibonacci retracements, I've identified two potential scenarios for BTC's next moves.
1️⃣ First Scenario: BTC could rise to test the supply zone between $26,350 and $26,550. Following this, a significant drop could occur, reaching down to grab liquidity at lower levels before bouncing back up to test the previously broken bullish support trendline.
2️⃣ Second Scenario: BTC could directly break through the upper liquidity range and aim for the bullish support trendline situated between 28k and $28,500. After reaching this point, a steep decline could be on the horizon.
💎Both scenarios offer different risk and reward profiles, so proceed with caution.
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