The 19th of may 2021 won't be forgotten easily and is a fresh remembrance for most of investing or trading in Bitcoin .
However, there seems to be some signs of a bullish trend on the 1h and 2h chart because there is a clear ascending triangle forming. Also the price action within this triangle is rubbing on the edges which seems that a breakout will occur very soon. IF the ascending triangle will breakout to the upside then expect the price to go around the 48000-50000 zone. From there we probably would see some side action, however can't have a clear vision where the price will go at that point. However as a trader you could already gain some ....
The price offcourse can also go down. The chance that this would happen seems smaller, but in this bussiness you can't know nothing for sure. If the price will drop then we will see some price action towards $ 34000. And if this support breakes then it will be very nasty. But will see what happens there....
Conclusion for now... Upside momentem expected. The ascending triangle will break upwards towards the 48000 - 50000 zone.
However, there seems to be some signs of a bullish trend on the 1h and 2h chart because there is a clear ascending triangle forming. Also the price action within this triangle is rubbing on the edges which seems that a breakout will occur very soon. IF the ascending triangle will breakout to the upside then expect the price to go around the 48000-50000 zone. From there we probably would see some side action, however can't have a clear vision where the price will go at that point. However as a trader you could already gain some ....
The price offcourse can also go down. The chance that this would happen seems smaller, but in this bussiness you can't know nothing for sure. If the price will drop then we will see some price action towards $ 34000. And if this support breakes then it will be very nasty. But will see what happens there....
Conclusion for now... Upside momentem expected. The ascending triangle will break upwards towards the 48000 - 50000 zone.
Comment:
Hmm idea didn't quite worked out :-)