So as you can see Bitcoin is forming a falling wedge, and it seems to be making the same movements as it did back in December when in had a sudden huge drop to 11k and a rally back to 17k. I believe it is making the same movement currently, but lets go over the other scenario's that might come to play if it fails to do the same.
Scenario 1: Bitcoin does the same as it did in December and goes up towards the 14k resistance or higher
Scenario 2: It falls down a bit more to around the 10-9k and goes for a bullish run up to 14k or higher
Scenario 3: It touches the support line of the falling wedge and goes for a bullish run up to 14K or higher
Scenario 4: It drops below the support line, most likely will find support on the 8200 or 7400 and if it doesn't hold, we will be seeing it go to deeper levels
Good luck trading!
Scenario 1: Bitcoin does the same as it did in December and goes up towards the 14k resistance or higher
Scenario 2: It falls down a bit more to around the 10-9k and goes for a bullish run up to 14k or higher
Scenario 3: It touches the support line of the falling wedge and goes for a bullish run up to 14K or higher
Scenario 4: It drops below the support line, most likely will find support on the 8200 or 7400 and if it doesn't hold, we will be seeing it go to deeper levels
Good luck trading!
Comment:
BTC has reached the support zone, lets see if it holds