Yesterday Bitcoin made a false breakout of the $51,900 level, which is the upper boundary of the trading range. The price was then corrected by 6%. This is not a good signal. Bitcoin is now in a difficult situation.
There are two main scenarios to consider: - The first and best scenario is if the price comes back and squeezes near the $51,500 level, this would be a very bullish signal for a breakout of the upper range boundary and a continuation of growth; - The second scenario, if the price comes down and closes below $57-56K, then it is very likely that it will continue to fall and hit the low of 42K.
As you already know from previous ideas I bought some altcoins and I would be very happy if the price goes in the first scenario. In case the price closes below $56-57k levels I will most likely close my positions.
Write in the comments all your questions and instruments analysis of which you want to see.
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P.S. I personally will open entry if the price will show it according to my strategy. Always make your analysis before a trade.
Below $46-47k Or $56-57k ??🤔