BINANCE:BTCUSDT   Bitcoin / TetherUS
Hello everyone,
Which one will it be?
BTC is on the verge of an important decision. Will BTC complete the HnS and Head to 42k? Or will BTC bounce from the support and break the HnS creating a strong reaction that will bring it to 56-58k?
Most of the oscillators and momentum indicators are flashing oversold. However, if we look at the volume, every bounce from 46500 was with drying volume, which is a bearish indicator. Will the volume increase on support to signal a breakout or, will it be a fakeout? Considering the indicators, there is a reasonable probability that the HnS continuation will fail. However, the best play is to wait.
Wait for a confirmation sign (breakout of the neckline 46500 or break out of the head to right shoulder resistance at 50k).
It is always best not to be surprised.
If we bounce convincingly from the support, it will be a good sign of a reversal. If we open and close on the 12h below the 46500, it will be a good sign that 42k is coming.
Stay safe
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