BTC broke out of the accumulation and showed an aggressive way up. This was to be expected.
Now I see three scenarios:
1. A further compression and reaching the range of 32-34 thousands, from which the sales can go and put BTC into accumulation, gain strength and continue moving up with the targets ~$40k.
2. A retest of the breakout level, where BTC showed growth and also formed an imbalance, somewhere near the end of the week (followed by a quick redemption).
3. Weakness of the buyer, uncertainty of the market, and everyone's favorite FUD. Unsuccessful upward breakout, leaving below $28.5k will confirm a (short-term) deep correction.
Now I see three scenarios:
1. A further compression and reaching the range of 32-34 thousands, from which the sales can go and put BTC into accumulation, gain strength and continue moving up with the targets ~$40k.
2. A retest of the breakout level, where BTC showed growth and also formed an imbalance, somewhere near the end of the week (followed by a quick redemption).
3. Weakness of the buyer, uncertainty of the market, and everyone's favorite FUD. Unsuccessful upward breakout, leaving below $28.5k will confirm a (short-term) deep correction.
