The market is at a turning point now it seems. Going to keep this one short.
2 options here, it's either a bear flag or a double bottom. For the double bottom we need to see it move inside of a small bull flag as we can see on the left. So needs to stay close against the neckline of the W bottom for a while, maybe a few hours. If that will happen, a break upwards is very likely to happen.
If we see rejection at the current level, so if we drop again below 155ish, than the bear flag option will become much more likely to happen.
At this point it's difficult to say which one it will be. For the bulls i would say, play it safe and wait a while to see that small bull flag play out first. Because than your chances go from 50/50 to almost 80/90%. For the bears, its more difficult, because if it starts to drop it will likely continue to drop.
Based on my BTC analysis, for now i prefer a bullish outcome, but only if btc can hold current levels.
As we can see from my previous analysis, so far it has been moving as planned, so the bullish version would be ideal. Would have been so much easier to say things if we didn't have that Finex issue hanging over the market. But feels like most already forgot about it. Tether is also on it's way up again, which is good.
Previous analysis:
2 options here, it's either a bear flag or a double bottom. For the double bottom we need to see it move inside of a small bull flag as we can see on the left. So needs to stay close against the neckline of the W bottom for a while, maybe a few hours. If that will happen, a break upwards is very likely to happen.
If we see rejection at the current level, so if we drop again below 155ish, than the bear flag option will become much more likely to happen.
At this point it's difficult to say which one it will be. For the bulls i would say, play it safe and wait a while to see that small bull flag play out first. Because than your chances go from 50/50 to almost 80/90%. For the bears, its more difficult, because if it starts to drop it will likely continue to drop.
Based on my BTC analysis, for now i prefer a bullish outcome, but only if btc can hold current levels.
As we can see from my previous analysis, so far it has been moving as planned, so the bullish version would be ideal. Would have been so much easier to say things if we didn't have that Finex issue hanging over the market. But feels like most already forgot about it. Tether is also on it's way up again, which is good.
Previous analysis:
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Normally fell short for like 1 dollar of it's target, so don't dare to say if its already done or not. So mid-term chances have increased again for more bullish movement, compared to past days. Short term, we could see a test of the neckline again, we should NOT drop below that neckline anymore around 156!