BITCOIN SPACE-TIME SCENARIO PROJECTION

٢٣ يونيو ٢٠٢٠

Greetings!

Bitcoin is trading in the triangle near the 10k super-level.

Here is the three most likely price-behavior scenario breakdown:

1-The purple line goes for an aggressive fake breakout push, collecting all the stops, then diving below the resistance, and then going up again in the true breakout. This one is possible, if the market makers think that there is no liquidity left on this level anymore. All bets are off.
Therefore, they have two options: either push up, buying, and collect the stops of the shorters to get the liquidity necessary for the further move up, or, they can make the final push down, selling their btc, risking the reserve liquidity they got in hopes to break the market and collect stops of the long positions.

Given how shallow the BTC market really is, which becomes evident by looking at some of the wild candles it throws, both scenarios are possible.

2-The blue line stands for a milder market driven version of the scenario 1, when the market moves up the diagonal support line, within the triangle, with two breakout attempts as well.

3-The red line is a bearish scenario. With the market makers making a final push for the "shorters stop loss liquidity". It is however possible, that a some of the market participants who were long for some time now, are weary of the indecisive market and would take the sudden push down as a signal to cover their positions.
That could trigger a chain reaction and drag the market away from the 10k level for quite some time.

Thank you for reading. Like and subscribe for more!

Wish a good day!