What's next for Bitcoin?
From this stage, we have two possible scenarios:
1. If Bitcoin successfully breaks out and provides us with a weekly close above $60K, we could see a 9% price rise, leading Bitcoin to $66K.
2. If Bitcoin faces rejection at the descending resistance, we may see it drop back to $55K in a short span of time. In a worst-case scenario, it could fall to the strong support area of $50K - $52K.
Let’s see what the upcoming week holds. Besides this, the upcoming week is expected to be volatile due to the FOMC and Fed interest rate announcements.
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