#BTC
#BTCUSDT
#Bitcoin
The Bullish & Bearish scenario is around a 10k difference to the upside & a 6k difference to the down side, remember that the market makers will ALWAYS leave at least two options on the table (someone has to loose).
The Bullish scenario would be a move to 43K (Blue B) before a pull back to 20K (Blue C) before commencing a bull run
The Bearish scenario would be a move to 34.4K (White 4) to 14K (White 5) before commencing a bull run
In both cases the bottom of the pink channel looks like it will be a catalyst for a reverse in trend, it just depends on how & when we arrive there.
The only way we will be able to tell which scenario is playing out will be if & when we close a weekly above $36150 as this will signal the invalidation of the White waves.
Time will tell but let me know your thoughts
#BTCUSDT
#Bitcoin
The Bullish & Bearish scenario is around a 10k difference to the upside & a 6k difference to the down side, remember that the market makers will ALWAYS leave at least two options on the table (someone has to loose).
The Bullish scenario would be a move to 43K (Blue B) before a pull back to 20K (Blue C) before commencing a bull run
The Bearish scenario would be a move to 34.4K (White 4) to 14K (White 5) before commencing a bull run
In both cases the bottom of the pink channel looks like it will be a catalyst for a reverse in trend, it just depends on how & when we arrive there.
The only way we will be able to tell which scenario is playing out will be if & when we close a weekly above $36150 as this will signal the invalidation of the White waves.
Time will tell but let me know your thoughts
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