TWO BITCOIN SCENARIOS, WHICH ONE WILL YOU CHOOSE?
Hello, dear followers, hope you survived this price action 🙂
support this idea with like ❤️. Bookmark this idea to analyse price action in future, and follow up comments section[/I]
Today's price action action has encouraged all of us: someone made good money, and someone lost money.
Let's look at possible scenarios, what will happen next with the price of bitcoin?
Look at weekly, this is interesting as the price approaching MA200, this could be very strong buy trigger:
Daily price and RSI doesn't show bullish divergence:
This might move the price a bit down within a week, and after completing RSI cycle and Divergence it will go up.
How far it can go upwards? I am waiting for 2 specific resistance levels 6800 and 8300. So I am looking to buy the dip at bullish divergence signal.
Hopefully to see it within a week. So it is better to avoid risky positions in this case. Choppiness will continue during 5-7 days.
Worst scenario is falling down, towards 4200 to retest Support / Resistance Flip. In this case it is important to see price action near 5800 zone and RSI patterns.
Summing up, I want to say:
Who earned profits - keep it up
Who lost - do not be discouraged. Keep on trading.
support this idea with like ❤️. Bookmark this idea to analyse price action in future, and follow up comments section[/I]
Today's price action action has encouraged all of us: someone made good money, and someone lost money.
Let's look at possible scenarios, what will happen next with the price of bitcoin?
Look at weekly, this is interesting as the price approaching MA200, this could be very strong buy trigger:
Daily price and RSI doesn't show bullish divergence:
This might move the price a bit down within a week, and after completing RSI cycle and Divergence it will go up.
How far it can go upwards? I am waiting for 2 specific resistance levels 6800 and 8300. So I am looking to buy the dip at bullish divergence signal.
Hopefully to see it within a week. So it is better to avoid risky positions in this case. Choppiness will continue during 5-7 days.
Worst scenario is falling down, towards 4200 to retest Support / Resistance Flip. In this case it is important to see price action near 5800 zone and RSI patterns.
Summing up, I want to say:
Who earned profits - keep it up
Who lost - do not be discouraged. Keep on trading.
- Please, Write in the comment which scenario is the right one, on your opinion?
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.