This is my sentiment on the possible outcomes on BTCUSD thic coming months. In the scenario for a rally, the pair will move further away from current lows 29 600. Key levels to look out for upwards is 31 000 followed by 32 300 and further upwards we have 35 000 and 400000 (This are more of zones around round figures).
For a downtrend, the pair will trade below 29 000 and 29 000 confirming the trend towards 28 000 and below. Monthly shows strong bearish momentum, on the Weekly there is bullish momentum however no confirmed higher highs, bearish sentiment remains, Daily has a bearish flag around from 14 may to 28 of may. The break towards higher highs confirms change of market structure and a possible beginning of a strong uptrend.
Triggers will include price falling below current lows and trading above immediate highs.
This should not be taken as investment advice and viewers should be aware of the risk involved when interacting with financial Markets. NOT FINACIAL INVESTMENT ADVICE.
For a downtrend, the pair will trade below 29 000 and 29 000 confirming the trend towards 28 000 and below. Monthly shows strong bearish momentum, on the Weekly there is bullish momentum however no confirmed higher highs, bearish sentiment remains, Daily has a bearish flag around from 14 may to 28 of may. The break towards higher highs confirms change of market structure and a possible beginning of a strong uptrend.
Triggers will include price falling below current lows and trading above immediate highs.
This should not be taken as investment advice and viewers should be aware of the risk involved when interacting with financial Markets. NOT FINACIAL INVESTMENT ADVICE.