BTC retest resistance zone (Round 2)
BTC / USD
Since 6 weeks in row BTC is trading inside the boring range between 18k - 24k
First try to break this range failed as fake breakout which rapidly absorbed by huge sell pressure
Today in Round 2 , BTC Bulls pushed the price up again providing HH and HL. and retesting same resistance
In my opinion,what will happen here will determine next long run for next months
What are the possible scenarios ?
1- Breakout and close above last local high and weekly candle is also closing above 200W EMA
Then we are looking for bullish market towards next major resistance (28k-30k)
2-Strong rejection , failure of HH and HL to continue and weekly close below 200W EMA : then we are looking for new local low
What do you think will happen in ROUND 2
Comment below ⬇️
Since 6 weeks in row BTC is trading inside the boring range between 18k - 24k
First try to break this range failed as fake breakout which rapidly absorbed by huge sell pressure
Today in Round 2 , BTC Bulls pushed the price up again providing HH and HL. and retesting same resistance
In my opinion,what will happen here will determine next long run for next months
What are the possible scenarios ?
1- Breakout and close above last local high and weekly candle is also closing above 200W EMA
Then we are looking for bullish market towards next major resistance (28k-30k)
2-Strong rejection , failure of HH and HL to continue and weekly close below 200W EMA : then we are looking for new local low
What do you think will happen in ROUND 2
Comment below ⬇️
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