The Major Squeeze of Bitcoin! Every Possible Outcome.
Hey, I am back with another Bitcoin Technical Analysis, this time talking about the Major Squeeze, of downtrend ressistance and uptrend support.
Slowly but surely, two major lanes are about to cross, if you are curious about all the possible outcomes, lets just jump right into them.
First, Green, likely.
Bitcoin will test ressitance once again, if the test will be succesful Bitcoin may breakout and test, 6800 and 7100, 7400 and from there it may continue to break free. An price above 7000 would signify that Downtrend was broken.
Second, Blue, more likely.
Bitcoin will test ressistance once again, fails to break, test uptrend succesfuly, and continue to rise in price riding uptrend support by small amounts, and after certain time, when nobody will expect it, Bitcoin will breakout once again! This would the most healthy option for the market.
Third, Red, unlikely.
Bitcoin will test ressitance once again, the test will be unsucessful and the uptrend will get broken and Bitcoin would follow the downtrend approx. to 5800 from where it may see a good bounce.
Here is the reasoning, why each way is somehow more likely to happen than others.
Thats all from me, for now. If you agree with this Technical Analysis , consider leaving that "Agree Button" blue, as it leads me to post more similiar Technical Analysis .
Thanks for your time and good luck trading!
Slowly but surely, two major lanes are about to cross, if you are curious about all the possible outcomes, lets just jump right into them.
First, Green, likely.
Bitcoin will test ressitance once again, if the test will be succesful Bitcoin may breakout and test, 6800 and 7100, 7400 and from there it may continue to break free. An price above 7000 would signify that Downtrend was broken.
Second, Blue, more likely.
Bitcoin will test ressistance once again, fails to break, test uptrend succesfuly, and continue to rise in price riding uptrend support by small amounts, and after certain time, when nobody will expect it, Bitcoin will breakout once again! This would the most healthy option for the market.
Third, Red, unlikely.
Bitcoin will test ressitance once again, the test will be unsucessful and the uptrend will get broken and Bitcoin would follow the downtrend approx. to 5800 from where it may see a good bounce.
Thats all from me, for now. If you agree with this Technical Analysis , consider leaving that "Agree Button" blue, as it leads me to post more similiar Technical Analysis .
Thanks for your time and good luck trading!
Comment:
Testing uptrend, Bounce is likely to happen here.