Bitcoin is moving in an uptrend along a trendline, and it has now reached that trendline. My expectations are as follows:
* A bounce from support and continuation upward.
* A support break with a fakeout, followed by an upward move.
* A deeper correction with a fakeout, then another upward move.
The blue zone that has been marked is a good area to place staggered buy entries.
This analysis would be invalidated only if a whale candle breaks the trendline — in that case, none of these three scenarios would be valid, and taking a short position in this trend would not be logical either. ✅
* A bounce from support and continuation upward.
* A support break with a fakeout, followed by an upward move.
* A deeper correction with a fakeout, then another upward move.
The blue zone that has been marked is a good area to place staggered buy entries.
This analysis would be invalidated only if a whale candle breaks the trendline — in that case, none of these three scenarios would be valid, and taking a short position in this trend would not be logical either. ✅
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