According to the Mid-Term BTC 1D Chart Analysis, Bitcoin has entered a Bearish Flag Pattern, which can easily fall to the bottom of the channel and more likely to the range of 30,000 by breaking the channel line in which it is located!
But in the meantime, there is an upward scenario for Bitcoin, in the short term, if it stabilizes above the midline of the channel, it can reach the range of 50-53,000, which if stabilized above this range, the long-term upward scenario of Bitcoin will strengthen.
Given the situation of the RSI index in the 4-hour period, we can expect a fast short-term growth of bitcoin, which has been seen in both scenarios, and in the continuation of this trend, if the trading volume does not increase, the probability of returning from the range and reaching the bottom of the channel Further increases.
But in the meantime, there is an upward scenario for Bitcoin, in the short term, if it stabilizes above the midline of the channel, it can reach the range of 50-53,000, which if stabilized above this range, the long-term upward scenario of Bitcoin will strengthen.
Given the situation of the RSI index in the 4-hour period, we can expect a fast short-term growth of bitcoin, which has been seen in both scenarios, and in the continuation of this trend, if the trading volume does not increase, the probability of returning from the range and reaching the bottom of the channel Further increases.
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