Two probable scenarios:
1st: Btc breaks under and closes below 59k then I see a short move to 50k.
Argument for lower move: the MACD and Volatility indicate a lower high coming, however, BTC is currently trading in a nice channel so there would have to be quite a rapid dump to trigger this scenario.
2nd: Btc Breaks above and closes above the high resistance level we will see a huge move slingshot move to the upside.
BTCUSD
Argument for higher move: News of BTC etf and media hype train, btc is currently holding well in a channel and has not broken down. Thus, suggesting that we might be just fuelling up before another explosive run to the upside/
This is not financial advice.
1st: Btc breaks under and closes below 59k then I see a short move to 50k.
Argument for lower move: the MACD and Volatility indicate a lower high coming, however, BTC is currently trading in a nice channel so there would have to be quite a rapid dump to trigger this scenario.
2nd: Btc Breaks above and closes above the high resistance level we will see a huge move slingshot move to the upside.
BTCUSD
Argument for higher move: News of BTC etf and media hype train, btc is currently holding well in a channel and has not broken down. Thus, suggesting that we might be just fuelling up before another explosive run to the upside/
This is not financial advice.
Comment:
If BTC does not hold above 56k it will drop to 50k