Bitcoin parallel channel scenarios 29th of March 2021
Hi guys, BTC has been moving inside the channel since it touched the 62.000$ levels a few weeks ago. I think a more decisive move will come in the next couple of days.
The altcoin market has been very profitable making life changing gains for almost every trader in crypto. Some big gains were made trading UNFI, WING, PERP. ANKR.
Let's see what could happen next :
Bull : BTC breaks the upper side of the channel and goes back the Fibonacci level at 0.236 doing a flipping the resistance at the 57.000$ into support. The levels to watch after a move like this are at the 62.000$. After that we enter price discovery and moon's the limit.
Bear : we keep going down to break the Fibonacci 0.5 retracement level found at the 52.400$ area. I this will be the case I expect to see a short bounce follow by a continued drop in price to the 47.000$ and maybe even lower to 43.000$ levels.
The general feeling seems to favour the bearish scenario.
BTCUSDT
Be prepared for both, this is not financial advice, only for educational purposes.
Trade safely my friends !
The altcoin market has been very profitable making life changing gains for almost every trader in crypto. Some big gains were made trading UNFI, WING, PERP. ANKR.
Let's see what could happen next :
Bull : BTC breaks the upper side of the channel and goes back the Fibonacci level at 0.236 doing a flipping the resistance at the 57.000$ into support. The levels to watch after a move like this are at the 62.000$. After that we enter price discovery and moon's the limit.
Bear : we keep going down to break the Fibonacci 0.5 retracement level found at the 52.400$ area. I this will be the case I expect to see a short bounce follow by a continued drop in price to the 47.000$ and maybe even lower to 43.000$ levels.
The general feeling seems to favour the bearish scenario.
BTCUSDT
Be prepared for both, this is not financial advice, only for educational purposes.
Trade safely my friends !
