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Bitcoin Intraday Technicals: Consolidation Continues
BTCUSD declined from $16,929 level since yesterday and now is trading in-between CRYPTOLEAN lines.
Above $16,929, BTCUSD will move towards $17,688.
Below it, we will see more downside pressure towards $15,678, but the price action will remain choppy.
We will monitor the following scenarios.
Scenario 1. A strong closure above $17,688 will make Bitcoin more bullish, but it will remain choppy towards $18,981.
Scenario 2. A re-test and rejection of $17,688 will push Bitcoin down towards $13,447-14,403 and, possibly, lower.
Scenario 3. A strong closure below $15,678 will push Bitcoin down towards $13,447-14,403 and, possibly, lower.
Scenario 4. A rejection of $13,447-14,403 with a strong price action will push Bitcoin up towards $17,688 and higher.
Above $16,929, BTCUSD will move towards $17,688.
Below it, we will see more downside pressure towards $15,678, but the price action will remain choppy.
We will monitor the following scenarios.
Scenario 1. A strong closure above $17,688 will make Bitcoin more bullish, but it will remain choppy towards $18,981.
Scenario 2. A re-test and rejection of $17,688 will push Bitcoin down towards $13,447-14,403 and, possibly, lower.
Scenario 3. A strong closure below $15,678 will push Bitcoin down towards $13,447-14,403 and, possibly, lower.
Scenario 4. A rejection of $13,447-14,403 with a strong price action will push Bitcoin up towards $17,688 and higher.
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