Preferred direction: BUY Comment: Our previous sell trading idea of a coin as part of a correctional movement is considered to be worked out, and it’s time to talk about potential growth and new highs, which were also discussed in the previous trading idea for Bitcoin. Ahead of us is the level of 62 000, where the nearest support is located at the time of writing this trading idea. And it is near this area that a potential reversal is expected, or at least a stop in the fall. Most likely, there will be manipulations near the indicated support, so one needs to be prepared for the price to drop below this support, which is clearly shown and provided according to scenario №1.
Scenario №2 is a plan "B" and involves more aggressive actions by the seller. Here the price may fall all the way to the 50 000 level, but as discussed earlier in the previous trading idea, this will not be the end of the current bullish move in the market.
A recovery is expected towards a historical high.
Additional comments on this trade will be provided as situation changes. Follow us!
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@Viktor_strifor_analyst, scenario 1 in play, everything depend how is the weekly candle close
Viktor_strifor_analyst
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@Dmitrij1, Yes, I am more confident in scenario №1, and as you've said, we need to look at how the weekly bar/candle closes. I'm monitoring Daily and H4 charts.