BTC is currently inside a trading range between 48190 to 50473 .
The bullish case will be for BTC to move up and at least test the top of the range at 50473 .
If BTC is unable to do that then a move to the middle of the range at 49300 is also good positive.
What if BTC cant even move up to the to the middle of the range at 49300 ?
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Then id expect BTC to move to 46722 and retry the move up .
If BTC cant move up from 46722 then id expect BTC to drop to 44032 and retry the move up.
What if BTC drops below 44032 ?
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if BTC drops below 44032 then this can be problematic as BTC will now be creating lower lows which is not a bullish sign
The bullish case will be for BTC to move up and at least test the top of the range at 50473 .
If BTC is unable to do that then a move to the middle of the range at 49300 is also good positive.
What if BTC cant even move up to the to the middle of the range at 49300 ?
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Then id expect BTC to move to 46722 and retry the move up .
If BTC cant move up from 46722 then id expect BTC to drop to 44032 and retry the move up.
What if BTC drops below 44032 ?
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if BTC drops below 44032 then this can be problematic as BTC will now be creating lower lows which is not a bullish sign
Note
one thing that bothers me is my original thought was this move up is a Billtrap and BTC could move to 46k to /50k and retrace - These targets have been hit but we must watch how BTC performs inside the trading range as described above before making any rash decisionsNote
Older charts suggesting 46k to 50K ============
Note
Note
like i said above "WAIT" and see what BTC does inside the trading range above which will let us know the direction its going to move in ,
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.