Since my last update, Bitcoin has successfully defended the range lows, and importantly reclaimed the mid-range where we currently trade just under $70,000 at the time of writing. From here we would want to see if the bulls are still in control - below is my take on where we could venture next.
Bullish Scenario
Prices hold and push for the range high’s. We could then see new all-time highs. There may also be a further move back to the range midpoint before the market moves higher.
Bearish Scenario
Failure for bulls to hold prices at these levels, as we are now at levels not seen since mid-April. Price moving below the range midpoint towards $66,000.
Bullish Scenario
Prices hold and push for the range high’s. We could then see new all-time highs. There may also be a further move back to the range midpoint before the market moves higher.
Bearish Scenario
Failure for bulls to hold prices at these levels, as we are now at levels not seen since mid-April. Price moving below the range midpoint towards $66,000.
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