A High probability scenario:
BTC breaks down to the 15k range as expected because of the macro. It is in the same position as the bear flag just like the previous one. Where it touches ema ribbon and takes a dip and then goes for another try and breaks down, completing a bear flag. So is the macd is repeating the history as there is a lack of volume as well. Secondly, the FOMC meeting is due 27th of this month and the people at the fed expect a 0.75% hike in interest rates so this confirms a breakdown. Nevertheless, Boll bands show a small pump to 22700k one can make a quick scalp here but risks are high.
The scenario I wish for:
Certainly, we can not see this happening but I really hope this happens that BTC breaks 22700 and make support here and consolidate for while and pump towards the 27k-30k range, this will be good for Market and alts as well. And this would mark 17k as the bottom for BTC in this bear cycle. TA is showing bullishness but FA is nowhere near.
BTC breaks down to the 15k range as expected because of the macro. It is in the same position as the bear flag just like the previous one. Where it touches ema ribbon and takes a dip and then goes for another try and breaks down, completing a bear flag. So is the macd is repeating the history as there is a lack of volume as well. Secondly, the FOMC meeting is due 27th of this month and the people at the fed expect a 0.75% hike in interest rates so this confirms a breakdown. Nevertheless, Boll bands show a small pump to 22700k one can make a quick scalp here but risks are high.
The scenario I wish for:
Certainly, we can not see this happening but I really hope this happens that BTC breaks 22700 and make support here and consolidate for while and pump towards the 27k-30k range, this will be good for Market and alts as well. And this would mark 17k as the bottom for BTC in this bear cycle. TA is showing bullishness but FA is nowhere near.