Where will BTC go?
Possible 3 scenarios for BTC in daily timeframe from my perspective.
Path 1 (Green) : If we break past 40k and get a proper close. We will go to 51-53k range and come down to retest 40k for support and move up more.
Path 2 (Blue) : There is a strong possibility for us to go down and get some more liquidity in order to move up. So if we bleed 26k range (4H demand) will be the place we see wicks in daily.
Path 3 (Pink) : Worst case scenario we go to 23k range (Daily Demand). I don't think this will happen.
I am personally think more possibility for Path 1 and Path 2. BTC having many bullish news and miners holding coins at the moment gives possibility for path 1.
This is just an idea not a trading setup.
Path 1 (Green) : If we break past 40k and get a proper close. We will go to 51-53k range and come down to retest 40k for support and move up more.
Path 2 (Blue) : There is a strong possibility for us to go down and get some more liquidity in order to move up. So if we bleed 26k range (4H demand) will be the place we see wicks in daily.
Path 3 (Pink) : Worst case scenario we go to 23k range (Daily Demand). I don't think this will happen.
I am personally think more possibility for Path 1 and Path 2. BTC having many bullish news and miners holding coins at the moment gives possibility for path 1.
This is just an idea not a trading setup.
Short term bullish from here.
We are holding closes above 33k. Which is a good thing.
Anyway if things mess up the above Path 2 and Path 3 is still open.