Bitcoin possible 3 scenarios. 18.07.2022
For the short term i see those scenarios.
On the 4h timeframe price broke 200MA (red line) and currently trading above it. To follow Yellow and Orange scenarios Bitcoin must hold above 20k.
200MA on 4h timeframe was strong resistance since 10th of april and in my opition that's why it is important for now.
Current market structure is similar to bear flag so if there is final shake out most likely drops till 16k (red path).
If THE bottom already in then we can expect "yellow" and "orange" scenarios for near future.
On the 4h timeframe price broke 200MA (red line) and currently trading above it. To follow Yellow and Orange scenarios Bitcoin must hold above 20k.
200MA on 4h timeframe was strong resistance since 10th of april and in my opition that's why it is important for now.
Current market structure is similar to bear flag so if there is final shake out most likely drops till 16k (red path).
If THE bottom already in then we can expect "yellow" and "orange" scenarios for near future.
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