BTC ALERT !!!
Following the latest Bitcoin bounce, we've observed some intriguing oscillations, with most of the volatility maintaining a bullish slant in line with the average true range of the market's current movement. Bitcoin is still trying to reach the last main resistance; this orange resistance determines whether the market is overall bullish or bearish.
During the bear market, Bitcoin has been frequently rejected from this resistance level. If this channel persists, Bitcoin is likely to drop to find support again at the bottom of the channel, thereby forming a final bearish wedge restructure. This does not rule out the possibility of a breakout above the orange line, allowing the price to continue rising until the ultimate resistance at $28,834 - an ideal scenario, but we must stay grounded.
The ORELA volume Oscillator, 29 Street Volatility Oscillator, and Momentum Oscillator are all pointing to bullish volatility. This continued accumulation could lead to distribution at a higher price after resting resistance, so waiting for a short signal is crucial in this scenario. It's important to remember that shorting against volatility is generally not a good strategy. Always exercise patience and caution in your trading decisions.
Let's continue monitoring these levels for better analysis of our trading decisions. Remember, trade wisely, and trade safely.
During the bear market, Bitcoin has been frequently rejected from this resistance level. If this channel persists, Bitcoin is likely to drop to find support again at the bottom of the channel, thereby forming a final bearish wedge restructure. This does not rule out the possibility of a breakout above the orange line, allowing the price to continue rising until the ultimate resistance at $28,834 - an ideal scenario, but we must stay grounded.
The ORELA volume Oscillator, 29 Street Volatility Oscillator, and Momentum Oscillator are all pointing to bullish volatility. This continued accumulation could lead to distribution at a higher price after resting resistance, so waiting for a short signal is crucial in this scenario. It's important to remember that shorting against volatility is generally not a good strategy. Always exercise patience and caution in your trading decisions.
Let's continue monitoring these levels for better analysis of our trading decisions. Remember, trade wisely, and trade safely.
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