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)
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)
Trade closed: target reached:
12k is the next target
If the price drops below the 29-30k support range, the uncomfortable scenario is certain.