Hello, I am back with an idea on BTCUSDT pair 1h time frame. BTC seems stronger recently after some time with volatile and terrible momentum. However there are 2 possible scenarios, each need a confirmation very soon.
1st Scenario - In this scenario, I see BTC going to the circle right there in the chart, retesting the support and fibo at 32.5k. That would be the perfect bounce to go near 40k and have a very bullish momentum for a while. So the confirmation would be bouncing off 32.5k in order to have a great bullish momentum for a couple of days. On the other side it can jump from where it is now at 34k, however it won't last for a while leading us to a bear scenario so it would be better jumping at 32.5k.
2nd scenario- It falls below the support. That will shake the market especially the alt coins, giving us an insecurity. However, 30k seems to hold strong and we won't go any lower than that.
I am more positive of the 1st scenario, but confirmation is needed for us to get ready for that. It would be the perfect bounce. Be careful when you trade and make sure to have confirmation areas and risk management. Do not rush. Be smart. If you have any comment, you are welcome. :)
1st Scenario - In this scenario, I see BTC going to the circle right there in the chart, retesting the support and fibo at 32.5k. That would be the perfect bounce to go near 40k and have a very bullish momentum for a while. So the confirmation would be bouncing off 32.5k in order to have a great bullish momentum for a couple of days. On the other side it can jump from where it is now at 34k, however it won't last for a while leading us to a bear scenario so it would be better jumping at 32.5k.
2nd scenario- It falls below the support. That will shake the market especially the alt coins, giving us an insecurity. However, 30k seems to hold strong and we won't go any lower than that.
I am more positive of the 1st scenario, but confirmation is needed for us to get ready for that. It would be the perfect bounce. Be careful when you trade and make sure to have confirmation areas and risk management. Do not rush. Be smart. If you have any comment, you are welcome. :)