BTC has printed a Bull Flag on the Hourly and there are 2 indicators showing confluence at the 30k level:
1. 50% Retracement sits at the 30k zone
2. Bottom Bollinger Band tested at 30k
The bearish scenario is the CME gap at the 25k zone which sits in confluence with the 61.8% Fib level.
If BTC doesn't hold its ground at 30k, we will see 25k very quickly, otherwise a reversal at 30k to the upside will take us to the 40k zone, we are on the fence here...
1. 50% Retracement sits at the 30k zone
2. Bottom Bollinger Band tested at 30k
The bearish scenario is the CME gap at the 25k zone which sits in confluence with the 61.8% Fib level.
If BTC doesn't hold its ground at 30k, we will see 25k very quickly, otherwise a reversal at 30k to the upside will take us to the 40k zone, we are on the fence here...
Comment:
Typo, Bull Flag On the Daily, not the Hourly.