Good morning Tradingview members.
The big moment is coming for Bitcoin.
July will be a decisive month.
There are two options we can see from here.
First, Bitcoin maintains 17-6k as the local bottom, or 16.8k at least.
Bitcoin goes then to test the range high at 33k in August, if momentum starts developing to the upside again.
Second option(the less likely one of the two), is that we are going to have a slow bleed until 13k.
Bitcoin will have to continue to drop on high volume and close below 16.8k to see this scenario.
If I had to guess which one has more chances to happen, Option 1 is the clear path.
Hope you found the idea interesting.
Let me know what you think in the comments!
The big moment is coming for Bitcoin.
July will be a decisive month.
There are two options we can see from here.
First, Bitcoin maintains 17-6k as the local bottom, or 16.8k at least.
Bitcoin goes then to test the range high at 33k in August, if momentum starts developing to the upside again.
Second option(the less likely one of the two), is that we are going to have a slow bleed until 13k.
Bitcoin will have to continue to drop on high volume and close below 16.8k to see this scenario.
If I had to guess which one has more chances to happen, Option 1 is the clear path.
Hope you found the idea interesting.
Let me know what you think in the comments!
King