Off the bat, the general trend looks as if it wants to continue movement downwards after the hacking scandal in the past few weeks which has pushed the price of BTC down.
Scenario 1:
Looking on a monthly scale we could see the price hit the current support and bounce off as it turns into resistance and continue downward's in line with the two blue trend lines.
Scenario 2:
Still looking on a monthly scale we could see the price return above the support hit the top blue trend line bounce to support and potentially push through the trend line and upwards as shown through the arrows.
Only an analyse and not an active trade I have placed, please let me know what you think,
Thank you.
Scenario 1:
Looking on a monthly scale we could see the price hit the current support and bounce off as it turns into resistance and continue downward's in line with the two blue trend lines.
Scenario 2:
Still looking on a monthly scale we could see the price return above the support hit the top blue trend line bounce to support and potentially push through the trend line and upwards as shown through the arrows.
Only an analyse and not an active trade I have placed, please let me know what you think,
Thank you.