With all indicators in the BTCUSD one day chart showing we are primed for a rally anywhere up to between 8000 and 11000USD, the key question is when this will actually begin. Many have prophesied that Bitcoin will go down to 6000USD before the impending upturn, but there is strong resistance to be found at 6400USD which we have tried to pass four times over the past two months without success.
We likely face three likely scenarios:
a) we will hit resistance yet again at 6400 over the next 24 hours before the rally commences
b) we will drop to 6000USD and possibly dip into 5500USD over the next 24 hours before the rally commences
c) we have already entered the rally and are on our way up to 11000USD over the coming fortnight
Which BTCUSD scenario do you back?
Please hit the thumbs up if you found this informative. This analysis is for educational purposes only and not a recommendation to buy or sell. Always do your own research before trading.
We likely face three likely scenarios:
a) we will hit resistance yet again at 6400 over the next 24 hours before the rally commences
b) we will drop to 6000USD and possibly dip into 5500USD over the next 24 hours before the rally commences
c) we have already entered the rally and are on our way up to 11000USD over the coming fortnight
Which BTCUSD scenario do you back?
Please hit the thumbs up if you found this informative. This analysis is for educational purposes only and not a recommendation to buy or sell. Always do your own research before trading.