BTC: STILL CONSOLIDATING!! BREAKOUT OR DUMP?
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Welcome to this BTC update.
BTC is still consolidating inside the symmetrical triangle in 4hr time frame. It is also forming a rising wedge-like structure here. Here are two scenarios for BTC:
Scenario1 (Bullish case):- BTC will pump continuously from here and breaks out the triangle. If it breaks out from the triangle (break above the
23K level) then we see a bullish rally up to the 
27K-28k level.
Scenario2 (Bearish case):- BTC pumps a bit from here. It might test the 22k-23K resistance level and again be rejected from the resistance level. If it breaks down the rising wedge again then we might see a dump towards 19k again.
So basically we have to wait for a clear breakout or rejection for further confirmation. Let's see how this goes.
What do you think?
Do you think this time BTC breaks the resistance level and is ready to go 28k or do you think that we again see the 19k level?
Share your views in the comment section.
If you like this idea then do support it with like and follow.
Thank You!
Welcome to this BTC update.
BTC is still consolidating inside the symmetrical triangle in 4hr time frame. It is also forming a rising wedge-like structure here. Here are two scenarios for BTC:
Scenario1 (Bullish case):- BTC will pump continuously from here and breaks out the triangle. If it breaks out from the triangle (break above the
23K level) then we see a bullish rally up to the 27K-28k level.Scenario2 (Bearish case):- BTC pumps a bit from here. It might test the 22k-
23K resistance level and again be rejected from the resistance level. If it breaks down the rising wedge again then we might see a dump towards 19k again.So basically we have to wait for a clear breakout or rejection for further confirmation. Let's see how this goes.
What do you think?
Do you think this time BTC breaks the resistance level and is ready to go 28k or do you think that we again see the 19k level?
Share your views in the comment section.
If you like this idea then do support it with like and follow.
Thank You!
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