Bitcoin movements scenario 28th of January 2021
Hello my friends, I have been talking about this BTC correction for about 2-3 weeks now, today I have noticed some new elements that I didn't see before. The main one is the bullish divergence on the 4H as seen above.
So the 2 scenarios are :
Bull : the bullish divergence plays out before the next big movement down, this would mean a re-visit of the 38.000 -39.000$ levels. From there if we see support from other indicators the bulls might try and move the price to the 47.000$ levels
Bear : massive sale invalidates the bull divergence and we keep going down to the 23.000 -24.000$ levels ( or even lower I believe ). This would be also a very plausible scenario because of the death cross that apeared on the same 4h chart yesterday. If history is to repeat itself, in the past we have seen one last push from the bulls after the death cross apeared.
if this helps like, comment & share
Trade safely guys !
So the 2 scenarios are :
Bull : the bullish divergence plays out before the next big movement down, this would mean a re-visit of the 38.000 -39.000$ levels. From there if we see support from other indicators the bulls might try and move the price to the 47.000$ levels
Bear : massive sale invalidates the bull divergence and we keep going down to the 23.000 -24.000$ levels ( or even lower I believe ). This would be also a very plausible scenario because of the death cross that apeared on the same 4h chart yesterday. If history is to repeat itself, in the past we have seen one last push from the bulls after the death cross apeared.
if this helps like, comment & share
Trade safely guys !