In the last few weeks, Btc showed an uptrend, that is lately losing momentum due to a lot of bearish pressure. This pressure seems to be manipulated, and Btc will more likely retrace to new lows below 25k. For now, Btc is building a descending triangle (diagonal red line and blue line), and fakeouts seem to trap bulls.
Possible scenarios:
1) If BTC goes up, it will probably not go over the short term resistance of 31k and will retrace to lower levels touching the blue line.
2) If BTC loses 28.6k support, it'll dive to 25k and below.
If none of these 2 scenarios happens, we will continue the sideways trend between 32k and 27k for a long while.
I would stay away from trading until positive signals.
This is not financial advice. Make your own research.
Possible scenarios:
1) If BTC goes up, it will probably not go over the short term resistance of 31k and will retrace to lower levels touching the blue line.
2) If BTC loses 28.6k support, it'll dive to 25k and below.
If none of these 2 scenarios happens, we will continue the sideways trend between 32k and 27k for a long while.
I would stay away from trading until positive signals.
This is not financial advice. Make your own research.