Trade Analysis #15: Where are $BTC heading next?
After the significant drop last week, BTC are now consolidating between $54,000 and $58,000.
Here I breakdown 2 possible scenarios that might happened next:
1. Upward Move: A Break above $58,000 could signal rally, but expect selling pressure at $63,000 and even more at $68,000. Price might bounce back and forth (retrace) before a shot at $68,000.
2. Downward Move: If price falls below $54,000, it might test $51,000. If $51,000 holds, Bitcoin could find support there, potentially setting the stage for next Bull Run.
The Bottom Line: Pay attention to these levels: $54,000, $58,000, and $51,000. They'll tell us where $BTC headed next.
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