BTC is still in a descending channel that I drew.. With recently bullish move I expect BTC to move to top of the channel 11200 critical resistance level..
There are two possible scenarios that I predict..
The Bullish scenario: BTC can handle and break the 11200 resistance level, in this case I'll expect our next stop is at 12000..
The Bearish scenario: BTC reject the 11200 resistance level, so it'll fall back to middle of the channel at first, and that's 9000 channel. As I drew the support lines our first stop will be at 9800. we're gonna see how BTC react with 9800 support line in the future..
My own opinion is more with the bearish scenario because of some fundamental news like US Election.. Generally October and November are crucial months for our decisions.. these two months I'll be more observer than trader..
The time and dates one the chart are not valid..
This is my idea.. What do you think??
There are two possible scenarios that I predict..
The Bullish scenario: BTC can handle and break the 11200 resistance level, in this case I'll expect our next stop is at 12000..
The Bearish scenario: BTC reject the 11200 resistance level, so it'll fall back to middle of the channel at first, and that's 9000 channel. As I drew the support lines our first stop will be at 9800. we're gonna see how BTC react with 9800 support line in the future..
My own opinion is more with the bearish scenario because of some fundamental news like US Election.. Generally October and November are crucial months for our decisions.. these two months I'll be more observer than trader..
The time and dates one the chart are not valid..
This is my idea.. What do you think??
Trade active
Trade active:
BTC hit 11070.. it's really close to 11200.. We should wait and see if it's going to move to the bullish scenario or not..
Trade active:
If the price close above 11200 in daily chart.. congratulations, we've entered the bullish scenario..
Trade closed: target reached:
Bullish scenario did a great job and we're going to the moon and beyond.. :)
