Bitcoin Market update
#Bitcoin has been ranging from the last few days between $31.3k - 28k, if we flip the above resistance zone of 31.3k - 30.5k level, we could see #Btc price head towards 34.1-35k zone and possibly continue towards 37.5k - 40k. This zone is likely to act as major resistance since its untouched supply on the daily and could predict a lot of sell order flow coming in from trapped and fresh traders.Hence pushing price aggressively down to $25k and below.
The other scenario is if we break 28.9k - 28k critical support zone, #Bitcoin could fall all the way down to 17k- 20k, which is the next support zone. The chances of this happening is less likely but we need to consider when to be bullish and bearish in the short term in order to get best entry levels while trading.
The other scenario is if we break 28.9k - 28k critical support zone, #Bitcoin could fall all the way down to 17k- 20k, which is the next support zone. The chances of this happening is less likely but we need to consider when to be bullish and bearish in the short term in order to get best entry levels while trading.