In general, the trend of Bitcoin is downward and bearish in the big red channel.
But in the short term, two possible scenarios are conceivable for Bitcoin:
1- The continuation of the downward trend in the big red channel, which in the worst scenario is a fall to the 3000 dollars channel.
2- The continuation of the upward trend in the small blue channel, which has its upper limit coincident with the heavy resistance zone of 40000 to 42000 dollars. If Bitcoin can successfully cross and consolidate above this resistance zone, it will expect the next resistance line of the top of the red channel, which is the 50000 dollar zone.
But in the short term, two possible scenarios are conceivable for Bitcoin:
1- The continuation of the downward trend in the big red channel, which in the worst scenario is a fall to the 3000 dollars channel.
2- The continuation of the upward trend in the small blue channel, which has its upper limit coincident with the heavy resistance zone of 40000 to 42000 dollars. If Bitcoin can successfully cross and consolidate above this resistance zone, it will expect the next resistance line of the top of the red channel, which is the 50000 dollar zone.
Comment:
Although two strong Candles are observed but It seams that the bearish Scenario is going to be started a little bit later still I believe...
Comment:
I still believe that we will have a return to 25k