📊BTC: two possible scenarios to discuss.
📊Hi friends! In this idea I will show you 2 scenarios that can happen on Bitcoin. Locally, we see a price rebound after a 30-40% drop. It was a natural price movement, we just had to wait for it. I closed several trades in profit. Bitcoin reached 2 out of 2 targets.
📊Let's discuss two scenarios for Bitcoin:
🚩The first scenario. Local decline, formation of a wedge and its squeeze with further growth. Naturally, during the price movement there will be manipulations with knocking out stops of long traders (check the volume indicator for confirmation✅). After all, would it be a crypto market without any manipulations or false breaks?
After the breakdown of the local wedge, we can reach the first resistance zone of $35-36k, which we marked on the horizontal volumes. What would be the underlying reason for a such rise? Of course, the short traders, which there are a lot on the cryptocurrency market now. They will be the fuel🔥 for this growth, closing their positions at a loss and pushing the price higher and higher. Friends, does everyone understand why this is happening? Write in the comments if you know.
When Bitcoin reaches this value zone, it should at least be in consolidation for a while to gain strength before the next move. This is where the culmination comes in.
The price after some consolidation continues its bull market, having been in consolidation for 2-3 weeks and by early summer returns to $50-60k or....
🚩The second scenario. After reaching the first value zone, in consolidation the price makes a false breakout of this zone and starts to fall. Now the fuel🔥 for the fall will be the long traders who did not use the risk management and did not put stop-losses.
If the second scenario will happen, then the price could fall to new lows under the key 26.7K level, which would finally force retail traders to panic and to sell all their cryptocurrency to those who want to buy it at a discount🐳
✅Friends, which scenario do you like? Or do you have your own scenario? Share it with the community in the comments.
💻Friends, press the "like"👍 button, write comments and share with your friends - it will be the best THANK YOU.
P.S. Personally, I open an entry if the price shows it according to my strategy.
Always do your analysis before making a trade.
📊Let's discuss two scenarios for Bitcoin:
🚩The first scenario. Local decline, formation of a wedge and its squeeze with further growth. Naturally, during the price movement there will be manipulations with knocking out stops of long traders (check the volume indicator for confirmation✅). After all, would it be a crypto market without any manipulations or false breaks?
After the breakdown of the local wedge, we can reach the first resistance zone of $35-36k, which we marked on the horizontal volumes. What would be the underlying reason for a such rise? Of course, the short traders, which there are a lot on the cryptocurrency market now. They will be the fuel🔥 for this growth, closing their positions at a loss and pushing the price higher and higher. Friends, does everyone understand why this is happening? Write in the comments if you know.
When Bitcoin reaches this value zone, it should at least be in consolidation for a while to gain strength before the next move. This is where the culmination comes in.
The price after some consolidation continues its bull market, having been in consolidation for 2-3 weeks and by early summer returns to $50-60k or....
🚩The second scenario. After reaching the first value zone, in consolidation the price makes a false breakout of this zone and starts to fall. Now the fuel🔥 for the fall will be the long traders who did not use the risk management and did not put stop-losses.
If the second scenario will happen, then the price could fall to new lows under the key 26.7K level, which would finally force retail traders to panic and to sell all their cryptocurrency to those who want to buy it at a discount🐳
✅Friends, which scenario do you like? Or do you have your own scenario? Share it with the community in the comments.
💻Friends, press the "like"👍 button, write comments and share with your friends - it will be the best THANK YOU.
P.S. Personally, I open an entry if the price shows it according to my strategy.
Always do your analysis before making a trade.
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