Did Bitcoin achieve a V-shaped reversal again? What will the market do next? Is it the beginning of a bull market? Or is it a bear market?
Last night, Bitcoin did not fall as expected, but chose to consolidate sideways, and is still struggling in the blue parallel channel. The weekend will usher in a critical moment to test the support of the lower edge of the red channel. Now, there are two possible trend scenarios for your reference:
Script 1:
Bitcoin continues to consolidate sideways. If the support of the lower edge of the red channel is effective, it may suddenly rise, forming an "Anti-Crab" pattern and then pull back. In this case, the sideways channel line is likely to be an institutional accumulation of funds in preparation for the next wave of increases. If Script 1 is realized, there may be a small-scale altcoin market over the weekend, and it is recommended to arrange some popular meme coins in advance. However, if the market trend is not as expected, Script 2 may become a reality, and then you need to take quick action to protect your positions.
Script 2:
If Bitcoin falls below the lower edge of the red channel after sideways trading, the market will face great risks. Although there may be a short-term retracement, if it is not repaired quickly, this wave of decline may continue, and there will be a chance to pull up again after the "Bullish Bat" pattern is formed. If this happens, it is recommended to decisively protect long orders when the retracement is confirmed to avoid greater losses.
Dear friends in the currency circle, which script do you prefer? Is it a sudden pull to welcome the surprise of the weekend, or a deep adjustment after breaking the support? Let's witness the choice of the market together!
