So far #Bitcoin has failed to hold its bearish breakout underneath TR3 (Trading Range 3) - once price re-entered the trading range it quickly moved to the other side performing a breakout, a sign sellers are trapped.
If the price continues to hold above the TR3 breakout successfully then it has a likelihood of visiting the previous breakdown area at TR2 (Trading Range 2) marked by red. Potentially even further depending on market conditions.
I am bullish on #BTC while price stays above the $21000 area, if price closes underneath there on the weekly or daily timeframe I will consider myself incorrect, meanwhile if it holds above then I will be targeting 26500-32000 as a take profit area (the previous "Bearish Breakdown" areas.
If the price continues to hold above the TR3 breakout successfully then it has a likelihood of visiting the previous breakdown area at TR2 (Trading Range 2) marked by red. Potentially even further depending on market conditions.
I am bullish on #BTC while price stays above the $21000 area, if price closes underneath there on the weekly or daily timeframe I will consider myself incorrect, meanwhile if it holds above then I will be targeting 26500-32000 as a take profit area (the previous "Bearish Breakdown" areas.