WILL $BTC GO UP OR DOWN? 🤔 Here The Direction! 👇

If you are wondering which direction BTC is about to take, then there are few possible scenarios. Currently, Bitcoin price is sitting between the support S4 (62'800-64'000) and the Resistance R2 (65'500-66'000). As we can see on the chart, I have drawn one bullish direction and one bearish. To prioritize one of them, we will need to monitor volumes on Monday morning.

BEARISH DIRECTION 🐻

With weak Monday volumes, I expect BTC to test S4. I'll may open a quick long position to speculate a retest of R1. From R1 I'll then short until S3. In case of strong selling scenario, I'll open a long position again at S2.

BULLISH DIRECTION 🐂

If Monday volumes are strong, R1 will act as a support and in that case I'll probably open a quick long position and take profit in TR (Trend Line). A retest of R1, specifically at 66'000, could be considered as a second chance to go long.

NOTE: I provided Area of Support Ranges, so it means that any opening position in that range is valid. In addition, the 2 scenario are discussed in a medium term frametime (few weeks).

PERSONALLY, a bearish scenario would provide a last chance to accumulate discounted altcoins. In fact they will be in a golden pocket range according to Fibonacci retracement.

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