Bitcoin

Bitcoin : 2 Scenarios and 3 key levels

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Hello Fellas, let's make this quick and details.

I want to discuss about the key levels and the possible 2 scenarios that could occur in bitcoin's next movement. For the long term, there are a lot of supporting aspects that show us the price is still in a high bearish pressure, but with current spike to the upside from bitcoin, A lot of arguments has occured that current structure is the beginning of the next bull run to challenge the new ATH. However, I can't agree with this kind of statement, I see million s of reasons that current movement is only the dead cat bounce as the consequences of the EMA 55 which act as support on weekly chart (see my video in youtube to know the details).

I see 3 key levels that play an important role for bitcoin right now.
The first level is around the $6000 region
The second level is around $8700 region
The 3rd level is around $9300 region

And I also see 2 possible scenarios which are bearish on long term. The first scenario is the yellow line, which there is a possible moves to touch this yellow line as the 2nd phase of break out strategy on around 3rd key level (because it simply was the support of descending triangle that is now become resistance). And the 2nd scenario will be the green, which the price is now touching the 2nd key level that has an alignment with 200 MA on daily chart which act as dynamic resistance.

There are bulls and bears scenario for short term but for longer term, I firmly believe that $6000 can be touched or even broken in the future.

Feragatname

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