Hello, this is my idea update on BTC, as recently we saw a drop, due to many news, which were quite negative for the trend. However before that, we saw a new ATH hit by BTC. As it looks it has bounced back perfectly from the support (resistance) area and it looks as it will continue quite good for the next 2 weeks. However there are two possible scenarios in this case.
FIRST SCENARIO- BTC hits the resistance and it gets rejected in the 58500k area. It will create a typical bear pattern and we can see it drop to the first support. This is quite possible scenario.
SECOND SCENARIO- BTC smashes the resistance, and we could see it forming a new ATH very soon again, however, it may turn bear at some point in the channel. At least if it breaks the resistance lines, it will reach a new ATH.
Yellow lines - support
Purple lines - resistances
Head and shoulder pattern - in the first scenario
Do your own search, it looks to me as it is going to go good for a week or two and then we will have to see. Do your own research too. :) If you have any other idea, you can comment, it can be helpful.:)
FIRST SCENARIO- BTC hits the resistance and it gets rejected in the 58500k area. It will create a typical bear pattern and we can see it drop to the first support. This is quite possible scenario.
SECOND SCENARIO- BTC smashes the resistance, and we could see it forming a new ATH very soon again, however, it may turn bear at some point in the channel. At least if it breaks the resistance lines, it will reach a new ATH.
Yellow lines - support
Purple lines - resistances
Head and shoulder pattern - in the first scenario
Do your own search, it looks to me as it is going to go good for a week or two and then we will have to see. Do your own research too. :) If you have any other idea, you can comment, it can be helpful.:)