hossein_ai7

Btc weekly | Bearish market is Coming ?

Short
hossein_ai7 Updated   
BINANCE:BTCUSDT   Bitcoin / TetherUS
There are 3 scenarios in my mind:

S1(Yellow Arrows): Bitcoin drops down to 50k-52k and can be supported on the blue trend line.

S2(Red Arrows): Obviously there's a RD- (regular divergence) in the btcusd weekly chart means an uptrend is over. On the other hand if current candle stays below the light yellow area, the red arrows scenario is possible.(btc price range 29k-32k)

S3(Purple Arrows): The most uncomfortable scenario is when the scenario 2 happens and a double top pattern can be formed which cause a down trend.(btc price range 10k-12k)



Comment:
It seems that the yellow scenario failed... also there's a low point of hope in the red scenario, so be cautious about long positions! The 29-30k support range can keep the price in a slow and grinding state for a while, at that time the rsi should be Reanalyzed.
If the price drops below the 29-30k support range, the uncomfortable scenario is certain.
Trade closed: target reached:
12k is the next target
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