A mere three days ago I made an analysis on BTC and what we could expect in the next few days. I argued that the best case scenario would be a strong break out through the top resistance of the triangle, a re-test and a continuation.
This exact best-case scenario has played out to the letter.
At the moment, we're enjoying some strong bullish momentum. Next stop is 50k.
I'm not expecting any significant draw-backs before reaching the 50k resistance. However, I do expect a drawback and consolidation around that area. The yellow minor support area would be the first strong support in case of a bearish move.
Since we've been going straight up for almost three weeks now, a small period of horizontal movement is to be expected.
Happy trading!
This exact best-case scenario has played out to the letter.
At the moment, we're enjoying some strong bullish momentum. Next stop is 50k.
I'm not expecting any significant draw-backs before reaching the 50k resistance. However, I do expect a drawback and consolidation around that area. The yellow minor support area would be the first strong support in case of a bearish move.
Since we've been going straight up for almost three weeks now, a small period of horizontal movement is to be expected.
Happy trading!
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