After breaking its ascending channel that lasted for about 2 months, BTC fell in a falling wedge from the 25,000 to 19,500.
Now BTC is in its demand range and according to the importance of this level which has the potential to reverse price, and the orders available in this range, there are 2 scenarios:
Bullish scenario: It is possible that if the demand increases in this range, the price will rise to the $25,000 range.
Bearish scenario: considering the macro factors (Economic Data, Inflation, War, Political conflict about the JCPOA which can lead to gas shortage in upcoming winter) and also the price ranging at this level unlike the previous times, if demand decreases and sell pressure increases, we may once again see the price drop to the 17,500 and if it does not hold above this range there is a possibility that the next support will be seen at the 16,400 range.
Now BTC is in its demand range and according to the importance of this level which has the potential to reverse price, and the orders available in this range, there are 2 scenarios:
Bullish scenario: It is possible that if the demand increases in this range, the price will rise to the $25,000 range.
Bearish scenario: considering the macro factors (Economic Data, Inflation, War, Political conflict about the JCPOA which can lead to gas shortage in upcoming winter) and also the price ranging at this level unlike the previous times, if demand decreases and sell pressure increases, we may once again see the price drop to the 17,500 and if it does not hold above this range there is a possibility that the next support will be seen at the 16,400 range.